Wednesday, June 18, 2008

100 per cent pay rise for bosses OK !

It's ok to give a pay rise of 100% to top executives! Azman Mokhtar, the Khazanah boss, said it was ok to give 100% salary increase to the Ceo/President and the CFO of TNB, the ulility company. We can forget about the reasons or rationale behind this wise opinion. After all TNB will increase its tariff rates by 30 per cent starting July.

Remember my "10-90 SINdrome" theory? Let's do a very simple calculation. The Star newspaper today on page B1 of StarBiz showed Director of Bumi-Commerce Holdings being paid a total remuneration in 2007 of RM9.35 million!!! Forget about other perks not added in. Let's say, an average employee is paid RM36,000 per year. RM9.35 million will be sufficient to pay 260 workers!!

What say you??

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