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CapitaLand Limited
Annual Report 2015
Overview
Sustainability
Business
Review
Portfolio
Details
Corporate
Governance &
Transparency
Financials &
Additional
Information
Guideline
Questions
How has the Company complied?
Disclosure on Remuneration
Guideline 9.3 (a) Has the Company disclosed
each key management
personnel’s remuneration,
in bands of S$250,000 or
in more detail, as well as a
breakdown (in percentage or
dollar terms) into base/fixed
salary, variable or performance-
related income/bonuses, benefits
in kind, stock options granted,
share-based incentives and
awards, and other long-term
incentives? If not, what are the
reasons for not disclosing so?
(b) Please disclose the aggregate
remuneration paid to the top
five key management personnel
(who are not directors or the
CEO).
The Company considers the heads of corporate functions to be its key
management personnel and for FY 2015, there were only three such
heads. Their remuneration, in bands of S$250,000 has been disclosed.
The remuneration of the Chief Executive Officers of the Company’s
unlisted subsidiaries is not disclosed as the Board believes that such
disclosure would be disadvantageous to the Group’s business interest,
given the highly competitive conditions in the real estate industry where
poaching of executives is commonplace; any poaching is likely to result
in a ratcheting up of the remuneration which is not in the interest of the
Company.
The aggregate remuneration paid to the aforesaid key management
personnel is S$5,715,268.
Guideline 9.4
Is there any employee who is an
immediate family member of a
director or the CEO, and whose
remuneration exceeds S$50,000
during the year? If so, please
identify the employee and specify
the relationship with the relevant
director or the CEO.
No.
Guideline 9.6 (a) Please describe how the
remuneration received by
executive directors and key
management personnel has
been determined by the
performance criteria.
(b) What were the performance
conditions used to determine
their entitlement under the
short-term and long-term
incentive schemes?
(c) Were all of these performance
conditions met? If not, what
were the reasons?
The remuneration paid to the P&GCEO and key management personnel is
strongly linked to the achievement of business and individual performance
targets.
Remuneration for key management personnel comprises a fixed
component, a variable cash component, a share-based component
and market-related benefits.
The variable cash component refers to short-term incentives which
are based on financial and non-financial performance targets in the
dimensions of
Financial, Execution, Growth
and
People
.
The share-based component refers to long-term incentives which are the
grant of share awards under the Share Plans. Shares will only be released
on the achievement of financial and shareholder return targets.
Overall, the performance targets were met, with the exception of
shareholder return targets which were affected by adverse share price
movements.
