Claims that Ho Ching's salary is 'around $100 million' false, says Temasek Holdings

Temasek Holdings has refuted claims that its chief executive Ho Ching earns an annual salary of "around $100 million".

In a statement posted on its website on Sunday (April 19), it added that Ho Ching's annual compensation "is neither the highest within Temasek, nor is she amongst the top five highest paid executives in Temasek".

Ho is the wife of Prime Minister Lee Hsien Loong.

The rebuttal was in response to "chatter based on an Asian talk show commentary" which made the claim of her annual salary. The commentary is believed to have stemmed from a programme on Taiwanese media. 

Here is their statement in full:

"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.

"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.

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"We also review compensation practices across the financial industry annually. This is an added check to support talent attraction and retention, within the context of our compensation framework.

"There has been chatter based on an Asian talk show commentary, which claims that Ho Ching's annual salary is around $100 million.

"This claim is false.

"Furthermore, Ho Ching's annual compensation is neither the highest within Temasek, nor is she amongst the top five highest paid executives in Temasek."

candicecai@asiaone.com