Claims that Ho Ching's annual salary is 'around S$100m' false, says Temasek
Temasek Holdings CEO Ho Ching speaks at the 11th Global Compact Network Singapore Summit on Nov 11, 2019. (Photo: Temasek Facebook Page)
SINGAPORE: Temasek Holdings said on Sunday (Apr 19) that claims that its chief executive Ho Ching's annual salary is "around S$100 million" are false.
In a statement published on its website, the Singapore state investment firm said the claim came from "chatter based on an Asian talk show commentary".
"This claim is false," it said.
The company added that her annual compensation is "neither the highest within Temasek, nor is she amongst the top five highest paid executives" in the company.
Mdm Ho is the wife of Prime Minister Lee Hsien Loong.
Temasek said it has a long term ownership mindset which includes its compensation framework to align employee and shareholder interests over economic cycles.
"This is part of our ethos of doing the right thing, as a forward looking institution," it added.
"Incentives focus on long term performance, and ensure employees share gains and pains alongside Temasek’s shareholder during the economic cycles," the statement said.
It added that compensation practices are reviewed across the financial industry annually as "an added check" to support talent attraction and retention.
