If you work for a listco your family controls, does pay incentivise you the way it would for an outsider?

IT'S that time of year again when we comb through the annual reports of listed companies to see how much their board members and top executives were paid for their professional efforts over the preceding financial year.

One company that stands out is Yangzijang Shipbuilding - not for how much its top brass are paid, but for how little.

Yangzijiang's executive chairman and chief executive officer, Ren Letian, received a salary of only S$80,400 for FY2021, according to the company's latest annual report. He did not receive any variable bonus, or directors' fees.

Ren Letian does not have to live on this salary alone, of course. As at end-2021, he held a deemed interest in nearly 165.8 million Yangzijiang...

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