Claims that Ho Ching earns around S$100 million annually are false, says Temasek

SINGAPORE — Temasek Holdings said claims that its chief executive Ho Ching’s annual salary is around S$100 million are false, adding that her annual compensation is "neither the highest within Temasek, nor is she amongst the top five highest paid executives in Temasek".

Temasek was referring to comments made in a Taiwanese talk show.

In a statement published on its website on Sunday (April 19), the state investor said there had been "chatter based on an Asian talk show commentary" which claims that Mdm Ho, the wife of Prime Minister Lee Hsien Loong, earns around S$100 million annually.

"This claim is false," Temasek said. "Furthermore, Ho Ching’s annual compensation is neither the highest within Temasek, nor is she amongst the top five highest paid executives in Temasek."

The state investor said that Temasek has a "long term ownership mindset". "This includes its compensation framework to align employee and shareholder interests over economic cycles. This is part of our ethos of doing the right thing, as a forward looking institution," it said.

"Incentives focus on long term performance, and ensure employees share gains and pains alongside Temasek’s shareholder during the economic cycles. Deferred compensation is an integral part of our compensation and clawbacks have been applied during years where the performance requires it."