Singapore’s state investor Temasek Holdings denied speculations that its chief executive officer Ho Ching made an annual salary of S$100 million or $70.4 million.
Temasek denied the claims in a rare issued statement, adding that allegations originated from «chatter based on an Asian talk show commentary».
«Furthermore, Ho Ching’s annual compensation is neither the highest within Temasek nor is she amongst the top five highest-paid executives in Temasek,» according to a «Bloomberg» report, citing the statement.
No Disclosure
Scrutiny on the salary of Ho Ching – also the wife of Prime Minister Lee Hsien Loong – follows demands by opposition lawmakers for remuneration disclosure of Temasek’s top executive which were rejected on the basis that the city-state’s government did not interfere with the operational decisions of the state investor.
«Incentives focus on long-term performance, and ensure employees share gains and pains alongside Temasek’s shareholder during the economic cycles,» it said, adding salaries would remain undisclosed.
