SINGAPORE: Singapore Telecommunications (Singtel) CEO Chua Sock Koong saw her annual pay package nearly halved in what the telco said was a … He joined Singtel in 1993 and has held several leadership roles in Singtel including CEO Consumer from June 2012 to December 2020 as well as Group Chief Digital Officer role from 2018 to December 2020. By agreeing the Terms & Conditions, you will receive our daily e-newsletter and marketing messages. Singtel CEO Chua Sock Koong's pay nearly halved to $3.5m. Learn about what we do and journey towards sustainability. Ms Chua's package came to S$3.5 million in cash and benefits, down from S$6.1 million the year before. ... FY 2020 was a challenging year for our businesses. The pay cut came as Singtel's underlying full-year net profit, shorn of one-offs, fell by 21.4 per cent year on year to S$2.83 billion. Chua Sock Koong, the long-time CEO of Singapore Telecommunications (Singtel), is feeling the heat amid intensifying competition in the telco sector. In a press release announcing its full-year financial results, CapitaLand said that “as a show of togetherness and solidarity” with its stakeholders, board members and senior management will take a cut in their board fee and base salary of between 5 per cent and 15 per cent from April. Singapore Airlines (SIA) Chief Executive Officer, Goh Choon Phong announced yesterday (28 Feb) that the management of SIA will be taking a pay cut effective 1 March. For Chua Sock Koong, Singtel’s group chief, the salary package has come down nearly by half--from S$ 6.1 Mn last year to S$ 3.5 Mn this year. Mr Yuen Kuan Moon, 53, was appointed Group CEO on 1 January 2021. Share. However, a 5% increase is more in line with historical norms. Your billing information must match the billing address for the credit card entered below or we will be unable to process your payment. For the first quarter ended 30 June 2020, Singtel’s performance reflected softening economic and market conditions, exacerbated by COVID-19 and ongoing price competition. Ms Chua’s annual package now stands at S$3.5 million and it include bonuses and benefits such as car benefits, medical coverage and club membership. Singtel group chief executive Chua Sock Koong's salary was nearly halved, after she oversaw what she … Goh himself personally volunteered to take a 15 per cent pay cut. On October 1, 2020, Singtel announced the appointment of Yuen Kuan Moon as group CEO to replace current chief Chua Sock Koong after her retirement in January 2021. Additional charge will be applied for delivery outside Singapore. With a 44% drop in net profit in what was deemed as a year hit by “a perfect storm”, Singapore Telecommunications (Singtel) CEO Chua Sock Koong’s saw her annual pay package dip to nearly half. The pay cut came as Singtel's underlying full-year net profit, shorn of one-offs, fell by 21.4 per cent year on year to S$2.83 billion. Singtel group CEO Chua takes pay cut again. According to TODAYonline, Singapore Telecommunications (Singtel) chief executive officer Chua Sock Koong has had her annual package nearly halved in what’s believed to be a year hit by “a perfect storm”, a notion that caused the telco to face a 44 per cent drop in net profit. A 2011 survey by GMI Ratings found that half of all CEOs earned a base pay of at least $657,884 a year. 6. Singtel has also said that its digitalisation and automation efforts are expected to save some S$490 million in the fiscal year to March 31, 2020. The Edge Communications Sdn. He has overall responsibility for the Group’s businesses. SINGAPORE (July 1): Singtel group CEO Chua Sock Koong suffered yet another year of pay cut after the telco reported lower earnings for … © All rights reserved. Singtel CEO takes 43% pay cut. Her total “paid” package was S$4.63 million, just slightly lower than the S$4.9 million she received for FY19 and that’s what she actually took home for the year ... (click on link for full story on theedgesingapore.com). The steps announced include CEO Dave Calhoun and Board Chairman Larry Kellner both forgoing all pay until the end of 2020, Boeing said. Check your email for more details. Shares of Singapore Telecommunications (Singtel) (SGX: Z74) are down 4% since the company reported lower earnings for the first quarter of fiscal 2020/2021 earlier this week.. As at 11:00 SGT on Wednesday 19 August 2020, Singtel shares are trading at S$2.33 each on the IG platform – 4.5% lower than last week’s closing price of S$2.44. Facebook. Funds Tantallon sees V-shape recovery and opportunity for Bharti Airtel Ms Chua Sock Koong's package of S$3.5 million was about 43 per cent lower than the S$6.1 million she made the financial year before. SINGAPORE (THE BUSINESS TIMES) - Sats on Monday (March 9) announced a 15 per cent pay cut for its president and chief executive Alex Hungate amid a … Goh’s announcement came as Deputy Prime Minister Heng Swee Keat also announced in Parliament yesterday that the President, all Cabinet ministers – including … SINGAPORE (July 1): Singapore Telecommunications Ltd (Singtel) group chief executive officer (CEO) Chua Sock Koong suffered yet another year of pay cut after the telco reported lower earnings for the most recent financial year ended March 31, 2020 (FY20). You are not eligible for Gift Box redemption as your subscription expiry is more than 90 days away or delivery address is not Singapore. Singtel CEO’s pay slashed by half In an effort to cut down costs and reinvest in digitalisation and automation, Singtel reduced the CEO’s wages by about half in addition to other staff cuts. SINGAPORE (July 1): Singtel group CEO Chua Sock Koong suffered yet another year of pay cut after the telco reported lower earnings for the most recent year FY2020 ended March 31 2020. The counter closed up S$0.02, or 0.58 per cent, to S$3.50 on its cum-dividend date on Wednesday, after the company report was released. It was her lowest pay-out since 2009, when she made nearly S$3.4 million. Published on Wed, Jul 01, 2020 / 11:05 AM GMT+8, Unlimited access to all stories from $99.9, 'Buy' Singtel now and get its core business for free, 'Stable' home demand set to carry into 2021, support property sector: CGS-CIMB, Oxley enters into strategic partnership with Pavilion Group for development of Oxley Towers at Kuala Lumpur City Centre, Riverstone Holdings subsidiary acquires land in Selangor for RM5 mil, Pilgrim Partners-managed VCC assumes control of Fu Yu Corp in $58.3 mil deal, Get a free Gift Box worth $50 delivered to your doorstep when you subscribe*, Weekly print edition delivered to your mailbox, Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login), *For annual subscription plan only. These increases in all components of pay suggest that the data was not heavily impacted by COVID-19 and can be used in benchmarking 2020 compensation levels. In an employee email, chief executive Goh Choon Phong said he will take a 15% pay cut… 05 October 2020 - 13 November 2020 On Thursday (Oct. 1), Singtel announced that in a media release that Singtel group CEO Chua Sock Koong will be retiring next year, Jan. 1. Rise and shine! Singapore, 29 July 2020 – Singtel today launched its annual National Day film tribute, celebrating the Singapore spirit of tenacity and perseverance as the country navigates its way through the unprecedented challenges of COVID-19. Singtel’s Covid-19 pay freeze heaps pressure on tech firms and banks to follow suit by Simon Mortlock 09 March 2020 The decisions of two iconic Singaporean employers, Singtel and Temasek, to freeze pay in response to the coronavirus crisis suggests other large firms in the finance and technology sectors may eventually follow suit. Southwest Airlines CEO Gary Kelly, who had a base salary of $750,000 in 2018, had his pay cut by 10%. Singtel’s digital businesses are gearing up to seize opportunities created by an increasingly connected world. Calhoun earns $1.4 million a … Singtel CEO takes 43% pay cut June 26, 2019 admin 0 Comments. The latest reporting and analysis from business and investments to news and views on social issues. T&Cs apply. SINGAPORE (July 1): Singtel group CEO Chua Sock Koong suffered yet another year of pay cut after the telco reported lower earnings for the most recent year FY2020 ended March 31 2020. Click ‘Next’ if you still wish to continue with purchase. Group CEO Yang Ban Seng will take a 15 per cent pay cut, while all vice presidents and above will have a 10 per cent salary reduction. Download our mobile app to bring our news with you on the go. You have an existing account, please log in instead. Bhd. An annual report published Wednesday has revealed that Chua was paid a total “earned” package of S$3.5 million for the most recent FY19, some 42.1% lower than the total “earned package” of S$6.1 million a year ago. Gary Kelly, the CEO of Southwest Airlines, announced that he will voluntarily take a 10% pay cut in response to the dramatic drop in air travel. Bursa Malaysia: Sustainability agenda a key lesson from the pandemic, Powering The Digital Economy With Advanced Enterprise Network, Jaya Grocer raises the bar in hygiene and safety, Toga looks towards the future with new apps and partnerships. Group Digital Life’s CEO Samba Natarajan shares insights on the digital landscape and how the Group’s digital investments will continue scaling in Asia. What is the Singtel share price? Singtel is Asia’s leading communications technology group, operating in one of the world’s fastest growing and most dynamic regions. 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