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Annual Report 2014 | S P SETIA BERHAD GROUP | 83

2.1 Remuneration Procedures

The Remuneration Committee, consisting wholly of Independent Non-Executive Directors, recommends to the Board the

remuneration package for the Executive Directors. The remuneration package for Executive Directors is structured on the basis

of linking rewards to corporate and individual performance. Performance is measured against the results achieved by the Group

and individual achievement against targets set at the beginning of each year. It is the ultimate responsibility of the entire Board to

approve the remuneration of these Directors with the Executive Directors concerned abstaining from deliberations and voting on

their own remuneration.

In the case of Non-Executive Directors, the remuneration package is determined by the Board as a whole, based on the experience

and level of expertise and responsibilities undertaken by the Non-Executive Directors concerned. The respective Non-Executive

Directors will abstain from discussing their own remuneration.

2.2 Remuneration Package

The remuneration package of Directors is as follows:-

(a) Basic Salary

The basic salary (inclusive of statutory employer’s contributions to the Employees Provident Fund) for each Executive Director

is recommended by the Remuneration Committee, taking into account the individual responsibility, contribution, performance,

and additional responsibilities of the Directors, as well as the market-rate for similar positions in comparable companies.

(b) Bonus Scheme

The Group operates a bonus scheme for all employees, including the Executive Directors. The criteria for the scheme include

the level of profit achieved by the Group from its business activities against targets, together with an assessment of each

individual’s performance during the period. Bonuses payable to the Executive Directors are reviewed by the Remuneration

Committee and approved by the Board.

(c) Fees and Other Emoluments

Non-Executive Directors are remunerated by way of Fees and Other Emoluments based on the experience and level of

responsibilities undertaken by the particular Non-Executive Director concerned. Fees payable to Non-Executive Directors are

subject to shareholders’ approval at the AGM.

(d) Benefits-In-Kind

Other benefits (such as chauffeur, security services and travelling allowance) are made available as appropriate.

The details of the remuneration of each Director of the Company who served during the financial year ended 31 October 2014 are

as follows:-

Executive Directors

Basic

Salary

(RM’000)

Bonus

(RM’000)

Fees

(RM’000)

Other

Emoluments

(RM’000)

Benefits-

in-Kind

(RM’000)

Total

(RM’000)

1.

Tan Sri Dato’ Sri Liew Kee Sin

(resigned on 30 April 2014)

3,362

7,392

-

-

2,841

13,596

2.

Dato’ VoonTinYow

4,860

5,174

-

-

488

10,522

3.

Dato’ Teow Leong Seng

(resigned on 15 June 2014)

1,052

1,552

-

-

168

2,773

4.

Dato’ Khor Chap Jen

1,966

1,762

-

7

3,735

corporate Governance Statement

IV. Corporate Governance