Annual Report 2006 - Venture Corporation Limited

corporate governance
2.1.2 The RC met twice in 2006.
2.1.3 The RC’s principal function is to:-
a. review and recommend to the Board specific remuneration packages and the terms of employment for the CEO,
executive Directors of the Group and for employees related to the executive Directors and controlling shareholders
of the Group;
b. review the remuneration framework for the Board and the Group’s key executives; and
c. administer the Company’s Executive Share Option Scheme (“ESOS”), which has been approved by shareholders of
the Company.
2.1.4 Directors’ fees are set in accordance with a remuneration framework of basic fees. Executive Directors do not receive fees.
Non-Executive Directors’ fees are subject to shareholders’ approval at the Company’s AGM. The RC has recommended
Directors’ fees for 2006, subject to approval by shareholders at the Company’s forthcoming AGM. A breakdown showing
the level and mix of each individual Director’s remuneration paid and payable for 2006 is as follows:-
Remuneration Band and
Name of Director Fee +
Below $250,000
%
Total Basic
Remuneration*
%
Total Variable
Remuneration**
%
Total
Remuneration
%
- Cecil Vivian Richard Wong 100 - - 100
- Koh Lee Boon 100 - - 100
- Goh Geok Ling 100 - - 100
- Goon Kok Loon 100 - - 100
$1,000,000 to $1,249,999
- Tan Choon Huat
- Soo Eng Hiong
- 30
29
$4,250,000 to $4,499,999
- Wong Ngit Liong - 17 83 100
+ Lump sum amount subject to approval by shareholders at AGM to be held on April 26, 2007
* Inclusive of employer’s CPF contribution
** Inclusive of annual wage supplement and bonuses and corresponding employer’s CPF contribution as well as benefits in kind such
as car allowance
2.1.5 Rather than list the names of the top five key executives who are not Directors of the Company, the following table
shows a group-wide cross-section of key executives’ remuneration within bands of $250,000 and a breakdown of the
remuneration into fixed and variable components. This provides a macro perspective of the remuneration pattern in the
Group, while maintaining confidentiality of each employee’s remuneration.
70
71
100
100
Remuneration Band
No. of Key
Executives
Total Basic
Remuneration*
%
Total Variable
Remuneration**
%
Total
Remuneration
%
Below $250,000 + 5 62 38 100
$250,000 - $499,999 20 55 45 100
$500,000 - $749,999 5 48 52 100
* Inclusive of employer’s CPF contribution
** Inclusive of annual wage supplement and bonuses and corresponding employer’s CPF contribution as well as benefits in kind such
as car allowance
+ Includes executives who have worked with the Group for less than one year
annual report 2006
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