Porky packages prove that fat city belongs to captains of industry
Hong Kong industrialists are famous for working 14-hour days, wearing flashy Rolexes and eating only fast food. Oh, and they tend to be rather well paid into the bargain.
In more than a dozen annual reports released on the stock exchange website yesterday, Lai See spotted at least three executives at listed small-caps on eight-digit packages last year.
Two newcomers were carton box and paper printer Hung Hing Printing (whose chairman, Yam Cheong-hung, made more than $11.5 million) and plastic injection moulding firm Chen Hsong (whose chief executive, Lily Chiang, topped $10 million). Knitted fabric maker Texwinca chairman Poon Pun-chak eked out a 12 per cent pay rise to take home a cool $23 million.
Compare that with listed fast-food firm Fairwood, in which no executive made more than $1 million last year, or Hang Fung Gold, where chairman Lam Sai-wing made just over $1 million - despite both firms recording strong performances last year.
Hong Kong may have become a service economy and flashy finance hub, but make no mistake: where there's muck, there's still plenty of brass.
