Claims that Ho Ching's annual earnings are 'around S$100m' false, says Temasek
19 April, 2020
Temasek Holdings said on Sunday (Apr 19) that claims that its chief executive Ho Ching's annual earnings is "around S$100 million" are false.
In a statement published on its website, the Singapore state investment firm said the claim originated from "chatter predicated on an Asian talk show commentary".
"This claim is false," it said.
The company added that her twelve-monthly compensation is "neither the best within Temasek, nor is she amidst the most notable five highest paid executives" in the business.
Mdm Ho is the wife of Prime Minister Lee Hsien Loong.
Temasek said it includes a permanent ownership mindset which includes its compensation framework to align employee and shareholder interests over economical cycles.
"That is part of our ethos to do the right thing, as a forward looking institution," it added.
"Incentives focus on long-term performance, and ensure employees share gains and pains alongside Temasek’s shareholder through the monetary cycles," the statement said.
It added that compensation practices are reviewed over the financial industry annually as "an extra check" to aid talent attraction and retention.
Source: www.channelnewsasia.com