TELECHOICE INTERNATIONAL LIMITED
ANNUAL REPORT 2014
34
CORPORATE
GOVERNANCE
D.
Benefits-In-Kind:
Benefits provided are comparable with local market practices and include non-cash benefits such as leave,
medical benefits and handphones.
In performing the duties as required under its Terms of Reference, the RC ensures that remuneration paid to the
President and key management personnel is strongly linked to the achievement of business and individual performance
targets. The performance targets as determined by the RC are set at realistic yet stretched levels each year to motivate
a high degree of business performance with emphasis on both short-term and long-term quantifiable objectives. The
RC also considers the tight talent market for senior Management in setting total compensation levels. The RC engaged
our remuneration consultant, Carrots, to conduct a Pay-for-Performance Alignment study. It was found that there was
sufficient evidence indicating Pay-for-Performance Alignment for the Company in both absolute and relative terms for
the 6-year period from FY08 to FY13.
Under the Code 2012, the compensation system should take into account the risk policies of the Company, be
symmetric with risk outcomes and be sensitive to the time horizon of risks. The RC has reviewed the various
compensation risks that may arise and introduced mitigating policies to better manage risk exposures identified. The
RC will also undertake periodic reviews of the compensation related risks in future.
For FY14, there were no termination, retirement and post-employment benefits granted to the President and key
management personnel.
There is no employee who is an immediate family member of a Director or the President, whose remuneration exceeds
S$50,000 a year.
Details of remuneration paid to our President and top five (5) key executives for FY14 are set out in Table 2 below. For
competitive reasons, the Company is only disclosing the band of remuneration of our President and each key executive
for FY14, within bands of S$250,000.
Table 2: FY14 – President and Top Five (5) Key Executives’ Remuneration
Name
Fixed
Component
%
Variable Cash
Component
%
Share-Based
Component
%
Benefits-In-
Kind
%
Remuneration
Bands
(1)
Lim Shuh Moh Vincent
58
17
21
4
C
Lee Yoong Kin
60
16
19
5
B
Pauline Wong Mae Sum
58
18
20
4
B
Wong Loke Mei
64.5
18
12.5
5
A
Goh Song Puay
68
16
10
6
A
Raymond Lum Wai Meng
72
17
5
6
A
Notes:
(1)
Remuneration Bands:
“A” refers to remuneration between S$250,001 and S$500,000.
“B” refers to remuneration between S$500,001 and S$750,000.
“C” refers to remuneration between S$750,001 and S$1,000,000.
