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CapitaLand CEO gets S$4.2m pay package for 2018

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CapitaLand chief executive and president Lee Chee Koon, who assumed the top post in September 2018, was rewarded with a remuneration package of S$4 million to S$4.25 million for 2018.

CAPITALAND chief executive and president Lee Chee Koon, who assumed the top post in mid-September 2018, was rewarded with a remuneration package of about S$4.21 million for 2018, including for his role as group chief investment officer (CIO) in the earlier part of the year.

In its annual report filed with the Singapore Exchange on Monday, the listed property giant disclosed the remuneration packages of its top executives, who together collected over S$17.6 million for the year 2018, lower than the S$20 million for 2017.

The highest paid in 2018 was Mr Lee, 43, whose remuneration was about S$4.21 million, of which 20 per cent was salary inclusive of annual wage supplement (AWS), 60 per cent in bonus and other benefits, and the remaining 20 per cent in shares awarded.

The amount included his remuneration both for his role as group CIO - a position he took on in January 2018 - and that as the head honcho when he stepped up to succeed Lim Ming Yan as CEO on Sept 15, 2018 .

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Mr Lim was rewarded with S$3.42 million for the year 2018 till the time he relinquished his CEO position in September and retired from the board on Dec 31, 2018.

Comparatively, the remuneration package of Mr Lim for 2017, when he was the CEO for the full year, stood at about S$6 million, 19 per cent of which was salary inclusive of AWS, 45 per cent in bonus and other benefits, and the remaining 36 per cent in shares awarded.

Next in line in the 2018 pay packages were Jason Leow, president for Asia (not including China) and retail, and Lucas Loh, president for China and investment management; they each had a remuneration package of S$3.75 million to S$4 million.

Group chief financial officer Andrew Lim and group chief people officer Tan Seng Chai each got a remuneration package of S$2.5 million to S$2.75 million.

CapitaLand's 2018 net profit was up 12.3 per cent to S$1.76 billion, as revenue rose 21.3 per cent to S$5.60 billion.