53 Annual Report 2024 REPORT ON CORPORATE GOVERNANCE The following table shows the Directors’ fees recommended by the Board for the financial year ended 31 December 2024 which will be tabled for shareholders’ approval at the forthcoming AGM: Name Directors’ Fee for financial year ended 31 December 2024 Proposed (S$’000) Tan Teck Koon# 68 Tan Chian Khong+ 91 Lee Kong Ting 69 Ng Shin Ein 70 Wong Su Yen 61 Derek Lau Tiong Seng 56 Tang Wai Loong Kenneth* 46 Lim Ming Seong^ 32 Sin Boon Ann^ 20 Total 513 # Director Fee as Board Chairman was pro-rated from date of appointment to 31 December 2024. + Director Fee as Lead Independent Director was pro-rated from date of appointment to 31 December 2024. * Director Fee pro-rated from date of appointment to 31 December 2024. ^ Director Fee pro-rated till date of cessation as director on 29 April 2024. Financial Year Ending 31 December 2025 Subsequent to the financial year ended 31 December 2024, the Board, through the RC, commissioned Willis Tower Watson to review the Directors’ Fees framework for the Non-Executive Directors to ensure that the Director remuneration is market benchmarked. Following the RC’s recommendation and the Board’s review, it is proposed that the revised Directors’ Fees framework for determining Directors’ Fees for the financial year ending 31 December 2025 is as follows: Main Board Chairman S$76,500 per annum Lead Independent Director S$60,000 per annum Director S$50,000 per annum Audit and Risk Committee Chairman S$33,000 per annum Member S$20,000 per annum Nominating Committee Chairman S$13,000 per annum Member S$7,000 per annum Remuneration Committee Chairman S$13,000 per annum Member S$7,000 per annum Commencing financial year ending 31 December 2025, the Board recommends for Directors’ Fees to be paid quarterly in arrears. Accordingly, a sum of up to S$600,000 as a total pool for the Directors’ Fees payable to Non-Executive Directors for the financial year ending 31 December 2025 was recommended by the Board for shareholders’ approval at the forthcoming AGM. The Director’s fees are paid wholly in cash.
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