Casino firm tops league of highest-paid directors
Posted by Bev Freeman on 19 Aug 2009 at 10:08
Casino company Genting has topped a magazine's list of the highest paid directors following an annual survey.
Bernama said Malaysian Business reported the poll shows Genting registered a payout of RM81.98 million to its board last year.
Furthermore, the business publication said the total payout for the top 10 companies in the chart stood at almost RM300 million.
According to Bernama, a statement from the publication said: "This shows that despite the slowing economy, listed companies paid their directors a higher remuneration in 2008 compared to 2007."
The survey appeared in the August 16 issue of the magazine and includes a run-down of 630 companies that paid their top-earning directors RM300,000 and over for the financial year of 2008. This amassed to a total of RM 1.7 billion to their boards overall.
The most rewarded Genting figure was company chairman and chief executive Tan Sri Lim Kok Thay.
Among other companies with the highest totals for remuneration of a single director was the Genting subsidiary Genting Malaysia, which paid out RM37.25 million and above to its top executive.
The magazine also pointed out that the payouts may have been paid to the same person, meaning there is a possibility of double counting.
