CORPORATE GOVERNANCE REPORT The NEDs’ remuneration payable in respect of FY2024 is $2,148,562 (FY2023: $2,211,780). Details of the Directors’ remuneration are provided in the Summary Remuneration Table for NEDs set out below. The Company will be seeking shareholders’ approval for the NEDs’ remuneration of up to $2,800,000 for FY2025 (FY2024: up to $2,500,000) at the upcoming AGM to be held in April 2025. The increase of $300,000 is attributable to the revision in the scale of fees payable to the NEDs as described on pages 90 to 91. SUMMARY REMUNERATION TABLE FOR NON-EXECUTIVE DIRECTORS FOR FY2024 Payable by the Company Directors’ Total Fees Cash-based $ Share-based $ Total $ Non-Executive Directors Teo Ming Kian(a) 525,000 225,000 750,000 VADM Aaron Beng Yao Cheng(b) 11,250 – 11,250 Kevin Kwok Khien(c) 142,846 61,220 204,066 Philip Lee Sooi Chuen(d) 68,661 29,426 98,087 Lien Siaou-Sze(e) 32,361 13,869 46,230 Lim Ah Doo(f) 137,500 – 137,500 Lim Chin Hu 150,850 64,650 215,500 Lim Sim Seng(g) 68,949 – 68,949 Neo Gim Huay(h) 79,846 34,220 114,066 Ng Bee Bee (May) 99,400 42,600 142,000 Ong Su Kiat Melvyn(b) 11,250 – 11,250 Quek See Tiat(i) 45,164 – 45,164 Song Su-Min 118,650 50,850 169,500 Tan Peng Yam(j) 94,500 40,500 135,000 COL Chong Shi Hao (Alternate to VADM Aaron Beng Cheng Yao) – – – Total for Non-Executive Directors 1,586,227 562,335 2,148,562 Payable by Subsidiary Non-Executive Director Lim Chin Hu 20,000 – 20,000 Total for Non-Executive Director 20,000 – 20,000 (a) Teo Ming Kian’s benefits-in-kind amounts to $33,598. Including the aforesaid, his total remuneration comprises cash (67%), shares (29%) and benefits-in-kind (4%). (b) Fee for public sector NED is payable to a government agency, the DCAC in cash (100%). (c) Pro-rated. Appointed RSC Chairman on 27 April 2024. (d) Pro-rated. Appointed Director and member of ERCC, NC and SFC on 1 June 2024. (e) Pro-rated. Appointed Director on 26 August 2024 and member of AC on 1 November 2024. (f) Pro-rated. Stepped down as a Director and ceased as member of AC and SFC on 10 November 2024. His remuneration was fully paid in cash (100%). (g) Pro-rated. Stepped down as a Director and ceased as member of ERCC, NC and SFC on 15 May 2024. His remuneration was fully paid in cash (100%). (h) Pro-rated. Appointed Director and member of RSC on 15 February 2024. (i) Pro-rated. Retired and ceased as Chairman of RSC at AGM held on 26 April 2024. His remuneration was fully paid in cash (100%). (j) Director’s fee is paid based on private sector NED remuneration fee structure. 92 ST ENGINEERING | ANNUAL REPORT 2024
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