TUNG LOK RESTAURANTS (2000) LTD / Annual Report
2016
22
Corporate Governance Report
Top 5 Key Management Personnel
The remuneration of top five key management personnel (who are not directors or the CEO of
the Company) are set out below in bands of S$250,000. The names of the key management
personnel and breakdown are not disclosed to maintain the confidentiality of the remuneration
packages.
No of Executives
Below S$250,000
5
The aggregate total remuneration paid to or accrued to the top five key executives (who are not
Directors or the CEO) amounted to S$700,000.
No termination, retirement and post-employment benefits is granted to the top five key
management personnel.
9.4 Disclose remuneration
details of employees who
are immediate family
members of a director
or the CEO, and whose
remuneration exceeds
S$50,000 during the year
One key management personnel of the Company, Mdm Tjioe Ka Lie, is the daughter of Zhou
Yingnan, Deceased (substantial shareholder) and sister of Tjioe Ka Men (Executive Chairman)
and Tjioe Ka In (Executive Director). Her remuneration is between S$100,000 and S$150,000
during FY16.
9.5 Details of employee
share scheme
The Company does not have any employee share scheme.
9.6 Disclose information
on the link between
remuneration paid to the
executive directors and key
management personnel, and
performance
Executive Directors and key management staff are paid discretionary bonus based on Group’s
results and individual performance. Such performance related remuneration is aligned with the
interests of shareholders and promote the long-term success of the Company. It also takes into
account the risk policies of the Company, be symmetric with risk outcomes and be sensitive to
the time horizon of the risks.
Executive Directors are currently not subject to performance target incentives. Certain key
personnel are paid incentives based on achievement of targeted performance of their respective
business units set at the beginning of the financial year. In setting the targets, due regards are
given to the financial and commercial health and business needs of the Group.
The Group has not implemented any share based compensation scheme or any long-term
incentive schemes involving the offer of shares or grant of options in place or any other forms
of deferred remuneration. In evaluating long-term incentives, the RC takes into consideration
the costs and benefits of such schemes.
The RC is of the view that the remuneration policy and amounts paid to the Directors and key
personnel are adequate and are reflective of the present market conditions.
