Singapore Telecommunications (SingTel) group chief executive officer (CEO) Yuen Kuan Moon’s salary came in at $8.2 million for the FY2025 ended March 31, a 16.8% y-o-y increase from FY2024’s pay of $7.0 million.
Yuen’s base salary for the financial year was $1.3 million, while his $2.2 million cash bonus made up 27% of his total remuneration.
Yuen received some $77,808 in benefits, up 1.8% y-o-y, on “car benefits, flexible benefits and other non-cash benefits such as medical cover and club membership”, according to SingTel’s latest annual report, released June 30.
Yuen also received some $2.2 million in restricted share awards (RSA), which will vest and be released in equal parts over three years, as long as Yuen remains employed by SingTel. Yuen has served as SingTel’s group CEO since Jan 1, 2021.
The per unit fair value of the RSA is $2.951.
Yuen also received nearly $2.4 million in performance share awards, with a per unit fair value of $2.155.
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The growth in Yuen’s remuneration stems from Singtel’s improved performance for the financial year, with FY2025 earnings of $4.02 billion up 405.3% y-o-y from FY2024’s $795 million.
The jump was largely due to a one-time exceptional gain of $1.3 billion from the partial divestment of the group’s Comcentre headquarters.
Outside of this, revenue in the period grew marginally at 0.1% y-o-y to $14.15 billion from FY2024’s $14.13 billion.
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Singtel notes that total remuneration for key management in the group excluding directors and the CEO came up to $29.4 million for FY2025.
For FY2025, the key management included group chief people and sustainability officer Aileen Tan; CFO Arthur Lang; group chief corporate officer Mark Chong and his deputy Gan Siok Hoon; group chief information officer and group chief digital officer William Woo; group chief technology officer Jorge Fernandes; and leads from the group’s operating units and subsidiaries — Anna Yip, Bill Chang, Ng Kuo Pin, Ng Tian Chong, Sam Liew and Stephen Rue.
There were no termination, retirement and post-employment benefits granted to directors and key management for FY2025.
As at 3.39 pm, shares in SingTel are trading three cents lower, or 0.78% down, at $3.81.
