Corporate
Governance Report
Disclosure on Remuneration
Principle 9
The table below disclosed (a) the remuneration of the CEO and (b) in bands of S$250,000, the remuneration of the top five key
management personnel (other than the CEO) for the financial year ended 31 December 2015:
KEY MANAGEMENT PERSONNEL
SALARY ¬%¯ VARIABLE ¬%¯ BENEFITS ¬%¯
TOTAL ¬%¯
S$1,750,001 TO S$2,000,000
Mr. Yim Lui Fai, Gerry
28%
69%
3%
100%
1
Chief Executive O¢cer
Managing Director, HIT
S$1,500,001 TO S$1,750,000
NIL
S$1,250,001 TO S$1,500,000
NIL
S$1,000,001 TO S$1,250,000
Mr. Lam Hing Man, Patrick
43%
50%
7%
100%
2
Managing Director, YICT
S$750,001 TO S$1,000,000
Mr. Ivor Chow
49%
46%
5%
100%
2
Chief Financial O¢cer and Investor Relations O¢cer
Executive Director, HIT
Mr. Ying Tze Man, Kenneth
52%
45%
3%
100%
2
Managing Director, COSCO-HIT
S$500,001 TO S$750,000
Ms. Lee Tung Wan, Diana
53%
42%
5%
100%
2
Deputy Chief Financial O¢cer
Finance and Legal Director and Company Secretary, YICT
Mr. Tang Hin Kee, Edward
45%
49%
6%
100%
2
Operations Director
General Manager - Operations, HIT
Notes:
1
The total remuneration paid to the CEO was S$1,966,000, most of which was paid by HIT to Mr. Yim Lui Fai, Gerry in relation to his role as Managing
Director of HIT and the remainder was paid by the Trustee-Manager (out of its own account)
2
Most of the aggregate compensation of the relevant key management personnel was paid by the relevant operating subsidiaries of the Group (i.e. HIT to
Mr. Ivor Chow in relation to his role as Executive Director of HIT; Mr. Tang Hin Kee, Edward in relation to his role as General Manager – Operations of HIT;
YICT to Mr. Lam Hing Man, Patrick in relation to his role as Managing Director of YICT and Ms. Lee Tung Wan, Diana in relation to her role as Finance and
Legal Director and Company Secretary of YICT; and COSCO-HIT to Mr. Ying Tze Man, Kenneth in relation to his role as Managing Director of COSCO-HIT),
and the remainder of the aggregate compensation of each of the relevant key management personnel was paid by the Trustee-Manager (out of its own
account). In 2015, the total remuneration paid to the above key executives (excluding the CEO) was S$3,839,000
3
Remuneration of key management personnel are paid in Hong Kong dollar (“HK$”) while the table above reflects the remuneration translated in Singapore
dollar (“S$”) based on the 2015 average HK$/S$ exchange rate. Therefore, the remuneration set out in the table above are subject to currency exchange
rates fluctuations
The remuneration package of key management personnel comprised base salaries and variable bonus and long-term
incentive award. Base salaries were determined based on the responsibilities of the job function and the market pay level of
similar positions. The variable bonus and long-term incentive award were determined based on the Group’s performance, the
individual’s overall work performance and achievement of the agreed performance targets. Long-term incentive awards are
vested into cash if certain benchmarks were met over the vesting period of 3 years.
There is no employee of the Trustee-Manager and the Group who is an immediate family member of the Directors or the CEO and
whose remuneration exceeded S$50,000 during the financial year ended 31 December 2015.
053
ANNUAL REPORT 2015
HUTCHISON PORT HOLDINGS TRUST
