Singapore – CEO compensation remains one of the clearest reflections of corporate performance, investor expectations, and shifting boardroom sentiments. In Singapore’s top-tier corporate landscape, executive pay saw mixed trends in FY2024–2025, with some CEOs rewarded for record earnings and others impacted by leadership controversies or shrinking share grants.
Here’s a closer look at how compensation changed across eight of Singapore’s most influential CEOs:
1. Piyush Gupta – Former CEO, DBS Group
Gupta received S$17.6 million, a 56.5% increase from S$11.2 million the year before, making him Singapore’s highest-paid CEO of the year. – Though his S$1.5 million base salary remained unchanged, his cash bonus (S$6.6 million) and deferred remuneration (S$9.4 million) surged, aligned with DBS’s historic 51% shareholder return and S$11.29 billion net profit—a new high for the bank.
2. Helen Wong – CEO, OCBC Bank
Wong’s compensation rose 5.8% to S$12.8 million, underpinned by solid financials including an 8% rise in net profit to S$7.6 billion. Her package consisted of S$1.2 million base, S$6.8 million bonus, S$4.5 million in deferred shares, and benefits worth S$332,207.
3. Wee Ee Cheong – CEO, UOB
Wee earned S$15.05 million, down 5.5% from the prior year.
While his base salary rose modestly to S$1.44 million, his bonus dropped 7.7% to S$13.56 million.
Despite UOB’s record S$6.05 billion profit, the reduced bonus reflected internal adjustments and market recalibration post-acquisition of Citibank’s Southeast Asia consumer assets.
4. Yuen Kuan Moon – CEO, Singtel
Yuen’s remuneration rose 16.8% to S$8.2 million, driven by improved core profits and a S$1.3 billion gain from a major asset divestment. His package included S$1.3 million salary, S$2.2 million in cash bonus, S$2.2 million in restricted shares, and S$2.4 million in performance shares.
5. Goh Choon Phong – CEO, Singapore Airlines
Despite SIA posting a record S$2.8 billion net profit, Goh’s compensation fell 13.5% to S$7 million, mainly due to lower share awards (S$2.3 million vs. S$4.3 million last year). His S$1.5 million salary and S$3.1 million bonus both rose slightly, reflecting operational excellence during the post-COVID travel rebound.
6. Lim Hock Chee – CEO, Sheng Siong
Lim’s compensation rose 20.6% to S$7.06 million, despite the supermarket operator’s net profit declining slightly. His variable bonus alone amounted to S$6.66 million, indicating strong board confidence amid tight margins and cost pressures.
7. Loh Boon Chye – CEO, Singapore Exchange (SGX)
Loh’s remuneration remained steady at S$7.57 million, backed by a 4.7% profit increase to S$597.9 million.
Long-term incentives, including performance shares, formed S$3.15 million of his package, reflecting the bourse’s long-horizon value strategy.
8. Vincent Phang – Former CEO, SingPost
Phang’s compensation fell nearly 50% to S$616,400 following his dismissal over mishandling a whistle-blower case. His reduced payout contrasts sharply with SingPost’s S$245.1 million one-off profit, which masked a deeper 40.3% decline in underlying earnings.
As Singapore’s corporate giants navigate economic recovery, digital transformation, and regional expansion, executive pay packages remain under close watch. While robust profits translated to record payouts for some, others faced sharp cuts or stagnation amid governance concerns and shifting performance metrics.
In a climate where perception and accountability are increasingly linked, these figures offer more than numbers — they reflect the evolving expectations of leadership in Asia’s most advanced financial hub.
