[2021] SGHC 90

Wei Fengpin v Low Tuck Loong Raymond [2021] SGHC 90
(d) Low and Sim continued to receive their full salaries of $528,960
and $355,920 respectively in FY2018. In FY2019, Sim received
S$284,940, whilst Low received a lower (but unknown) amount
(“2018/2019 Salaries”). 64
(e)
The Defendants’ salaries were increased in FY2016 without
Wei’s knowledge or approval. 65
Big Bonuses
50 The Defendants claim that the Big Bonuses were for work done in
FY2014 when Wei was not a director; and approved at an EGM on 31 December
2014 (“2014 EGM”) before Wei became a shareholder, although the amount of
the bonuses was determined later. 66 They also claim to have told Wei in late
January 2015 that he would not be receiving any bonus.
51 Wei claims that the Big Bonuses were paid out without his knowledge
or approval when he was then a shareholder and director of the Company, in
breach of Art 75 of the Articles which requires a general meeting to be called to
determine and approve directors’ remuneration. Wei claims that the 2014 EGM
did not take place and, even if it had, the Big Bonuses were not approved there.
The Big Bonuses were also not for work done in FY2014. If they were, they
should have been reflected in the FY2015 accounts but were not. Finally, Wei
submits that in any case, the Big Bonuses were excessive and unjustified. 67
64
1AB 359–360; 2DB 191; 16/10/20 NE 27–29; Agreed Issues at s/n 6(a)(v).
65
PCS at [38], [55].
66
DCS at [141] and [144].
67
SOC at [25]–[26]; Wei’s AEIC at [76]; PCS at [42]–[45], [47]; 1AB at 14.
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