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Malaysia’s top 100 CEOs: Who took the top spot?

Genting head Lim Kok Thay took home RM284.61 million (US$68.6 million) last year from his two positions as head of Genting Bhd and head of Genting Malaysia Bhd. Photo: The Straits Times

Genting’s head might just be the highest-paid person in Malaysia, according to a list of the country’s top 100 CEOs.

The rankings were published on Tuesday, May 7 in this year’s Corporate Governance Monitor report from Malaysia’s Securities Commission (SC).

It assessed the total pay of CEOs of the top 100 listed companies on the Malaysian stock exchange’s main market. The companies were selected based on their market capitalisation (value on the stock market) as of December 31, 2018.

Those named as CEO or managing director in a company’s annual report, or in charge of running a company’s day-to-day operations, were treated as the CEO, SC said, adding that it obtained its data from corporate governance reports and announcements made on the Bursa website.

The report calculated a CEO’s pay by adding up the salary, bonuses and benefits.

It was only able to obtain CEO salaries for 84 of the 100 companies, as the remainder either did not disclose their CEO’s salary, or reported it in bands of 50,000 ringgit (US$12,042).

Half of the CEOs in the top 20 were from family-controlled companies, SC said.

The highest-paid CEO of 2018 was Genting head Lim Kok Thay, who took home an annual pay of 284.61 million ringgit from his two positions as head of Genting Bhd and head of Genting Malaysia Bhd.

Securities Commission Malaysia

Lim, 67, is the world’s 436th richest man and Malaysia’s seventh richest man, with a total wealth of 18.25 billion ringgit, according to Forbes.

Lim’s pay was more than 3.5 times that of the CEO in second place: Sapura Energy boss Shahril Shamsuddin, who earned 71.92 million ringgit.

Lim’s monthly pay of 23.6 million ringgit also easily exceeded that of Prime Minister Mahathir Mohamad. Malaysia’s leader declared his monthly income on a public government portal as being about 75,900 ringgit.

He also eclipsed the highest-paid government official, Mukhriz Mahathir, who took home a monthly income of about 105,600 ringgit.

Securities Commission Malaysia

Rounding out the top five on the CEO list were IOI Corporation head Lee Yeow Cho (39.01 million ringgit), IHH Healthcare head Tan See Leng (33.89 million ringgit), and Maxis head Robert Nason (31.8 million ringgit).

Other names in the ranking included AirAsia Group CEO Tony Fernandes (23.5 million ringgit), former Astro Malaysia Holdings boss Rohana Rozhan (13.17 million ringgit), and Telekom Malaysia’s newest head, Imri Mokhtar (7.98 million ringgit).

The top three sectors with the highest median CEO pay were telecommunications and media, financial services, and utilities, SC said.

It added that CEOs in the real estate investment trust (Reit) sector had the lowest median pay.

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This article originally appeared on Business Insider.

Luxury CEOs
  • The rankings were published in this year’s Corporate Governance Monitor report from Malaysia’s Securities Commission