[SINGAPORE] From telcos to banks, companies have released their annual reports in the past few months.
Those reports include a breakdown of how much CEOs were paid in the previous year.
Their compensation packages in Singapore can vary, based on sector performance, or one-off gains and share awards.
Here is what major players across industries paid their CEOs for the latest year, with differences in base salary, bonuses and one-off awards.
1. Singtel CEO Yuen Kuan Moon
For the financial year ended Mar 31, 2025, Singtel’s CEO earned S$8.2 million, a 16.8 per cent increase from his more than S$7 million earned in FY2024.
His package included an estimated fixed salary of S$1.3 million and benefits of S$77,800. He also received a cash bonus and restricted share award of about S$2.2 million each, and a performance share award of around S$2.4 million.
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For Singtel’s FY2025 results, underlying net profit rose 9 per cent to S$2.47 billion, while net profit jumped more than five times to S$4.02 billion, boosted by a one-off S$1.3 billion gain from the partial divestment of its Comcentre headquarters.
2. Former SingPost CEO Vincent Phang
The former group chief executive, who was dismissed over the mishandling of a whistleblower complaint, had his compensation halved to S$616,400 for the financial year ended Mar 31.
Singapore Post’s latest annual report released on Jun 24 indicated that the payout comprised S$570,600 in fixed salary, S$10,500 in provident fund contributions, and S$35,200 in benefits.
The company’s benefits generally include medical and flexible allowances, as well as other perks such as car allowance and long-service awards, where applicable. Phang was fired by SingPost on Dec 21 but the annual report did not indicate if his salary was pro-rated.
He received about S$1.2 million in the previous financial year.
Despite booking a net profit of S$245.1 million, boosted by the one-off divestment of its Australia business, the group’s underlying net profit fell 40.3 per cent to S$24.8 million, with a net loss of some S$500,000 in the second half.
3. Former DBS CEO Piyush Gupta
The former DBS chief executive received a total remuneration of S$17.6 million for the financial year ended Dec 31, 2024, representing a 56.5 per cent year-on-year increase from about S$11.2 million previously.
Gupta’s FY2024 compensation was 14.3 per cent higher than the S$15.4 million in FY2022. Based on DBS’ annual report released on Mar 6, 2025, his base salary of S$1.5 million for 2024 remained unchanged from the previous year.
He received a higher cash bonus of S$6.6 million, compared to S$4.1 million in FY2023, and deferred remuneration of about S$9.4 million, up from S$5.6 million the year before.
Of the deferred amount, DBS said that around 17.1 per cent or S$1.6 million will be in cash, with the remaining to be issued in the form of shares.
These shares do not include the estimated value of retention shares worth S$1.4 million, which serve as a retention tool and to compensate staff for the time value of deferral.
Current CEO Tan Su Shan succeeded Gupta on Mar 28.
The latest annual report indicated that total shareholder returns for 2024 amounted to 51 per cent, the “highest in DBS’ history outside crisis-rebound years”. This comprised share price gains of 44 per cent and a dividend return of 7 per cent.
The bank released its results for the fourth quarter and the full year on Feb 10. Net profit for Q4 was at S$2.52 billion, up 11 per cent from S$2.27 billion in the year-ago period. Its full-year net profit leaped to a record high of S$11.29 billion, up 12 per cent from the year-ago period.
4. Singapore Airlines CEO Goh Choon Phong
The carrier paid its chief executive S$7 million in remuneration for the latest financial year ended Mar 31, it disclosed in an annual report on Jun 25.
This is a 13.5 per cent fall from the S$8.1 million package he received in FY2024.
Goh’s latest remuneration consists of a S$1.5 million salary and S$3.1 million in bonuses – both an increase from FY2024’s S$1.4 million salary and S$2.2 million in bonuses.
However, the value of the shares he received was lower at S$2.3 million in FY2025, down from S$4.3 million in the year-ago period.
The decline in Goh’s compensation came even as the company reported a record net profit of S$2.8 billion, on the back of S$19.6 billion in revenue for the year.
5. OCBC CEO Helen Wong
OCBC’s group chief executive received S$12.8 million in total remuneration for the financial year ended December, up 5.8 per cent from S$12.1 million in the prior year.
This comprised a base salary of S$1.2 million, a bonus of S$6.8 million, deferred shares amounting to S$4.5 million, as well as payment in the form of other benefits worth S$332,207, according to the bank’s annual report released on Mar 26.
Benefits she received, which are paid for by the bank, include club and car benefits.
In February, OCBC reported a net profit of S$1.7 billion for the fourth quarter ended December, up 4 per cent from S$1.6 billion in the previous corresponding period.
This brought its full-year net profit to a record S$7.6 billion, an increase of 8 per cent from the prior year.
6. UOB CEO Wee Ee Cheong
The UOB chief executive officer’s annual salary for 2024 dipped, despite the bank reporting a record net profit for the full year.
Wee, who is also deputy chairman of the bank, was paid S$15 million, which comprises a salary of S$1.44 million and a bonus of S$13.56 million, UOB’s 2024 annual report showed on Mar 21.
Other benefits in kind, including transport and event-related perks, amounted to S$46,944.
His annual package was down 5.5 per cent from the S$15.9 million he was paid in 2023. His 2024 salary was 2 per cent higher than the year before, even as his bonus fell 7.7 per cent from the S$14.69 million in 2023.
In UOB’s annual report, Wee noted that the bank’s financial performance remained resilient in 2024, with total income for the financial year ended Dec 31 up 3 per cent year on year to S$14.3 billion.
He added that UOB’s acquisition of Citigroup’s consumer banking businesses in South-east Asia has “supercharged” its retail customer base to 8.4 million across Asean, accelerating the lender’s regional growth by five years.
The CEO’s remuneration fell even though UOB posted a 5.8 per cent increase in net profit to a record S$6.05 billion.
7. Sheng Siong CEO Lim Hock Chee
The supermarket operator’s chief executive officer received S$7.06 million in total compensation for FY2024, an increase of 20.6 per cent from S$5.86 million in the prior year.
Based on Sheng Siong’s annual report released on Apr 4, Lim received a base salary of S$373,000, a variable bonus of S$6.66 million, director’s fees of S$20,000 and benefits in kind amounting to S$16,000.
In February, the supermarket operator reported a 1 per cent lower year-on-year net profit of S$67.6 million for the second half ended December, as increases in finance and administrative expenses outstripped the rise in revenue.
8. Singapore Exchange CEO Loh Boon Chye
The local bourse operator’s chief executive had a total gross remuneration of S$7.57 million in FY2024.
His FY2024 pay package included S$3.15 million in long-term incentives, such as performance shares and other incentives aligned with the company’s long-term results, according to its annual report released on Sep 16, 2024.
Loh’s fixed pay stood at S$1.21 million, and he also received a cash bonus of S$3.15 million and benefits in kind of S$57,256.
His latest pay award comes on the back of Singapore Exchange’s 3.1 per cent year-on-year rise in revenue to S$1.23 billion in FY2024, driven by the bourse operator’s fixed income, currencies and commodities derivatives business.
Net profit rose 4.7 per cent to S$597.9 million over the same period, yielding total dividends of 34.5 Singapore cents per share, up from 32 cents per share in FY2023.
