Provision 7.2 of the Code: Remuneration of Non-Executive Directors dependent on contribution, effort, time spent and responsibilities The Independent Directors receive Directors’ fees for their effort and time spent, responsibilities and contribution to the Board, subject to shareholders’ approval at annual general meetings. The Independent Directors are not over-compensated to the extent that their independence may be compromised. The Non-Executive Non-Independent Director is not remunerated. Disclosure on Remuneration Principle 8: The company is transparent on its remuneration policies, level and mix of remuneration, the procedure for setting remuneration, and the relationships between remuneration, performance and value creation. Provision 8.1 and 8.3 of the Code: Remuneration disclosures of Directors and key management personnel; Details of employee share schemes Remuneration of the Executive Director is stipulated in his service agreement with the Company (“Service Agreement”). Under the provisions of the Service Agreement, the Executive Director shall be paid a monthly base salary and annual wage supplement and be provided with benefits commensurate with the position. The Executive Director participates in a profit-sharing scheme that is pegged to the Group’s profitability. The Executive Director does not receive Directors’ fees and there are no post-retirement and severance benefits except the common practice of giving notice or salary in lieu of notice in the event of termination. The level and mix of remuneration paid or payable to the Executive Director for FY 2025 are set out as follows: % Breakdown of Remuneration Name of Director Remuneration (S$) Base salary Bonus/Profit Sharing Benefits in kind Mr Sidney Chew Choon Tee 752,000 89% 8% 3% Independent Directors are paid only Directors’ fees, subject to approval at the annual general meetings. The fees paid to Independent Directors comprise a basic fee, a fee for chairing a committee and a fee for being a member of the committee. The fees paid to the Independent Directors for FY 2025 are set out as follows:– Name of Independent Director Directors’ fees Mr Yeo Wee Kiong S$81,000 Mr Sim Guan Seng S$64,000 Mr Daniel Loh Hong Chye S$57,000 Total Directors’ fees S$202,000 Mr Yasutaka Kawamura, the Non Executive Non-Independent Director, of the Company, did not receive any remuneration for FY 2025. MEGACHEM LIMITED ANNUAL REPORT 2025 63 CORPORATE GOVERNANCE REPORT
RkJQdWJsaXNoZXIy NTM2MDQ5