Benefits
Common benefits-in-kind prevalent among large groups similar to Axiata such as Annual Overseas Business Development Trip, mobile communication
devices and telecommunication facilities, medical benefits provided under Axiata Healthcare Program and insurance benefits, including Directors’ & Officers’
Liability Insurance.
Frequency of Review
Targeted to occur every five years, the last review was undertaken in 2014. Director’s remuneration is decided by the Board collectively after review by the
BRC and the individual Director does not participate in decisions regarding his/her remuneration package.
The number of Directors of the Company whose total remuneration during the financial years falls within the required disclosure band is as follows:-
Non-Executive Directors
1
No. of Director
RM250,000.00 – RM300,000.00
3
RM300,000.00 – RM350,000.00
1
RM350,000.00 – RM400,000.00
3
RM400,000.00 – RM450,000.00
1
RM600,000.00 – RM700,000.00
1
Executive Director
2
RM6,950,000.00 – RM7,000,000.00
1
1.
Breakdown of the aggregated remuneration of NEDs for FY15 into appropriate components is set out below:-
Name of Director
Fees
(RM’000)
Meeting
Allowances
(RM’000)
Monetary Value of
Benefits-in-Kind
(RM’000)
Tan Sri Dato’ Azman Hj. Mokhtar
a
360
36
214
Tan Sri Ghazzali Sheikh Abdul Khalid
269
41
21
Datuk Azzat Kamaludin
283
49
37
Dato’ Abdul Rahman Ahmad
250
39
64
David Lau Nai Pek
288
58
43
Juan Villalonga Navarro
264
18
-
Ann Almeida
b
259
21
-
Dr Muhamad Chatib Basri
203
18
65
Kenneth Shen
a
283
54
66
a.
Fees and Meeting Allowances paid directly to Khazanah
b.
Includes Fees and Meeting Allowances totaling RM108,000.00 and RM4,000.00 respectively which are accrued for donation to Axiata Foundation
2.
Breakdown of the aggregated remuneration of Dato’ Sri Jamaludin Ibrahim for FY15 into appropriate components is set out below:-
(RM’000)
a.
Salaries, Allowances and Bonus
5,000
b.
Benefits
(Contribution to EPF, ESOS and RSA
Expenses and Monetary Value of
Benefits-in-Kind)
1,991
Executive Director
The Company’s policy on remuneration for the ED is similar to previous years which is to ensure that the level of remuneration is generally set to provide
market competitiveness to attract, retain and motivate an ED of the highest calibre to competently manage the Company.
The component parts of the remuneration are therefore structured to link the remuneration package with corporate and individual performance as well as
relative shareholders’ returns and takes into account similar packages at comparable companies (of similar size and complexity to Axiata locally; and in the
same industry in the region), based on information prepared by independent consultants and survey data.
The BRC reviews and recommends the remuneration package of the ED for the Board’s approval and it is the responsibility of the Board as a whole to
approve the total remuneration package of the ED, giving due considerations to law and corporate governance principles. The current remuneration policy
of the ED consists of basic salary, performance-linked bonus, benefits-in-kind, EPF contributions and RSA respectively based on the recommendation of the
BRC. The ED is not entitled to monthly fees nor is he is entitled to receive any meeting allowances for the Board and Board Committee meetings he attends
both for Axiata and subsidiaries.
axiata group berhad | annual report 2015
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