CORPORATE GOVERNANCE REPORT
102
ANNUAL REPORT 2015
FRASERS HOSPITALITY TRUST
REMUNERATION MATTERS
Principle 7:
Procedures for Developing Remuneration Policies
Principle 8:
Level and Mix of Remuneration
Principle 9:
Disclosure on Remuneration
The remuneration of Directors, the CEO and employees of the Managers are paid by the Manager from the fees it
receives from FHT, and not by FHT.
For the financial period ended 30 September 2015, the Managers adopted the remuneration policies and practices
of FCL, which has a remuneration committee (the “
FCL RC
”) that oversees, inter alia, the framework of remuneration,
compensation and benefits for key executives of the Managers, including the CEO. The level and mix of remuneration
and benefits, policies and practices of the FCL group, which includes the Managers, are reviewed by the FCL RC on an
annual basis. In undertaking such reviews, the FCL RC takes into consideration the performance of the Managers as
part of the FCL group, and that of individual employees. It also reviews and approves the framework for salary reviews,
performance bonuses and incentives for senior managers of the Managers as part of the FCL group-wide review.
The Managers’ compensation framework comprises fixed pay and short term and long-term incentives. Executive
remuneration is linked to, inter alia, individual performance based on an annual appraisal of each individual employee
of the Managers.
During the financial period, the only executive officers and employees of the Trustee-Manager are the CEO and Chief
Financial Officer (“
CFO
”) who are also the CEO and CFO of the REIT Manager respectively. As FH-BT was dormant
during the financial period, no compensation was payable to them as the CEO and CFO of the Trustee-Manager.
The remuneration of non-executive Directors takes into account their level and quality of contribution and their
respective responsibilities, including attendance and time spent at Board meetings and Board Committee meetings.
Directors are paid a basic fee and attendance fees for attending Board meetings. Non-Executive Directors who perform
services through Board Committees are paid additional basic and attendance fees for such services. No Director
decides his own fees. Directors’ fees are reviewed periodically to benchmark such fees against the amounts paid by
other major listed REITs.
The Directors’ fees for the financial period ended 30 September 2015 are shown in the table below.
Director
FY2014
(pro-rated)
FY2015
Mr Law Song Keng (Chairman of Board, Nominating Committee and ARC
Committee)
SGD 40,000
SGD 153,000
Mr Chua Phuay Hee
SGD 15,000
SGD 54,000
Mr Liew Choon Wei (Member, Nominating Committee and ARC Committee)
SGD 21,667
SGD 80,500
Dr David Wong See Hong (Member, ARC Committee)
SGD 20,000
SGD 72,000
Mr Panote Sirivadhanabhakdi (Member, Nominating Committee)
SGD 16,667
SGD 55,500
Mr Lim Ee Seng
1
SGD 15,000
SGD 54,000
Mr Choe Peng Sum
1
SGD 15,000
SGD 52,500
1
Directors’ fees are paid to FCL Management Services Pte. Ltd.
As FH-BT was dormant during the financial period, no compensation was payable to them as directors of the Trustee-
Manager.
None of the Directors of the REIT Manager and Trustee-Manager Board has entered or proposed to enter into service
agreements with the REIT Manager and Trustee-Manager or any subsidiary or any subsidiary entity of FHT which
provides benefits upon termination of employment, retirement and post-employment benefits.
