Sunday declines comment on 'overpaid' directors

PUBLISHED : Wednesday, 16 May, 2001, 12:00am
UPDATED : Wednesday, 16 May, 2001, 12:00am

Sunday Communications, despite claims it has more transparency than other listed local companies, is unwilling to disclose its criteria for awarding remuneration packages to directors.

Group managing director Craig Ehrlich said yesterday he did not want to discuss director remuneration packages in public because the company was sustaining losses.

But he said the mobile telecommunications company, which listed on the main board in April last year, used an independent committee to help determine the packages. Sunday last year awarded its six directors a pay package of HK$37.32 million, a fourfold annual increase, despite reporting a loss of HK$466.57 million. The unnamed, highest-paid director received between HK$29 million and HK$29.5 million, an annual increase of 2.5 times. Sunday will host its first annual general meeting today.