CIMB Group Holdings chief Nazir
Abdul Razak is highest paid government-linked company (GLC) director and fourth
on a list of 50 highest-paid directors last year, according to a survey by a
business magazine.
The fortnightly Malaysian Business, in its Aug 16
edition, said he had earned RM12 million last year.However, Nazir's annual income was much lesser than it was in
2009 when he had taken home RM14.5 million.
“Of the ... companies surveyed, close to 270 directors drew more than RM1 million in remuneration in 2010.”The survey was conducted on 630 companies with a remuneration band of RM300,000 and above as stated in their annual report.
“However, there were some companies that had lowered their boardroom remuneration in 2010. This was the case at CIMB Group Holdings Bhd, which paid out RM18.51 million or 13 percent less to its board members,” said Gurmeet.
According to the statement, “only a handful” of the companies polled were transparent in stating the precise remuneration of their top executives.Several companies which suffered huge losses last year had rewarded their directors with huge payouts.
Topping the list, is Genting Bhd with a payout of RM111.48 million to its board, a 21 percent hike from RM92.11 million in 2009.Its executive chairperson and chief executive Lim Kok Thay and the company were in the highest remuneration band of RM106.65 million to RM106.70 million for a director.
The fortnightly Malaysian Business, in its Aug 16
edition, said he had earned RM12 million last year.However, Nazir's annual income was much lesser than it was in
2009 when he had taken home RM14.5 million.
Nazir's brother Najib is Malaysian premier.“The Malaysian Business ... found that the top 20
companies, in terms of total payouts forked out RM455.6 million last year, up 22
percent from previous years,” said assistant editor Gurmeet Kaur in a
statement.
“Of the ... companies surveyed, close to 270 directors drew more than RM1 million in remuneration in 2010.”The survey was conducted on 630 companies with a remuneration band of RM300,000 and above as stated in their annual report.
“However, there were some companies that had lowered their boardroom remuneration in 2010. This was the case at CIMB Group Holdings Bhd, which paid out RM18.51 million or 13 percent less to its board members,” said Gurmeet.
According to the statement, “only a handful” of the companies polled were transparent in stating the precise remuneration of their top executives.Several companies which suffered huge losses last year had rewarded their directors with huge payouts.
Topping the list, is Genting Bhd with a payout of RM111.48 million to its board, a 21 percent hike from RM92.11 million in 2009.Its executive chairperson and chief executive Lim Kok Thay and the company were in the highest remuneration band of RM106.65 million to RM106.70 million for a director.
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