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#1
08-11-2014, 02:10 AM
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Smrt ceo desmond kuek earned over $1 million in first 6 months on the job
An honorable member of the Coffee Shop Has Just Posted the Following:
SMRT CEO DESMOND KUEK EARNED OVER $1 MILLION IN FIRST 6 MONTHS ON THE JOB .node-article .field-name-link-line-above-tags{float: right;}.node-article .field-name-ad-box-in-article {float: left;margin: 15px 15px 10px 0;}.node-article .field-tags{clear: both;} Post date: 7 Nov 2014 - 4:57pm  Did you know that SMRT’s CEO, Desmond Kuek, earned over $1 million in his first 6 months on the job as SMRT CEO? Singaporeans have long complained about the poor service, the frequent breakdowns and the recently hiked fares of SMRT. The problems with service disruptions and breakdowns seems to have intensified over the last year and many commuters have been dissatisfied with the service. Well, according to the SMRT Annual Report for the Financial Year 2013, the CEO, Desmond Kuek actually earned over $1 million for the first 6 months that he was on the job since October 1st 2012:  Mr Kuek received a Basic Salary of $305,000 just for 6 months on the job and a Performance Bonus of $274,000. He was also given a $32,000 sum for ‘benefits’. This works out to be a remuneration package of $611,000. However, on top of this, he was also given Shares in SMRT whose values will be dependent on the company’s performance in the future. He was given 156,000 shares on a Restricted Shares Plan and another 130,000 on a Performance Share Plan. That amounts to 286,000 shares. Currently, SMRT shares trade at $1.59 [Link] this means that through the shares alone, Mr Kuek has also gained almost $445,000. This brings Mr Kuek’s remuneration package for the 6 months from October 2012 to March 2013 to a whopping $1,056,000. Do you think this Elite Paper General deserves so much for just the first 6 months on the job when he is likely to still be learning some of the ropes and at the same time failing to keep the service standards up? What do you think? Click here to view the whole thread at www.sammyboy.com. 
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