CapitaLand CEO paid S$6.76m last year

Chief Executive Officer of CapitaLand Liew Mun Leong received a total of S$6.76 million in remuneration last year, up from S$5.795 million in the previous year.

His bonus for the year accounts for more than half of his pay packet, coming in at S$3.6 million.

Mr Liew’s salary for the year comes in at S$1.299 million, which includes the annual wage supplement and employer’s CPF contributions.

The remaining S$1.86 million comes in the form of shares, payable by the directors of the company and its subsidiaries.

He highlighted in a letter to shareholders that he aims to grow CapitaLand’s China business – the company’s largest overseas contributor – to 45 per cent of CapitaLand’s total assets.

Other plans for expansion include doubling its shopping malls in China in the next three to five years to about 100, grow its serviced residence Ascott’s presence worldwide, and explore ways to add to its financial services business via new funds or real estate financial products.

CapitaLand posted a net profit of S$1.27 billion last year, its fifth straight year of net profits that surpassed the billion dollar mark.

The property developer will hold an annual general meeting on April 25 to seek approval of directors’ fees, as well as a declaration of a first and final dividend of six cents per share.

Source : Channel NewsAsia – 7 Apr 2011

COMMENTS