fbpx
Connect with us

News

Sapura Energy CEO Nearly Kicked Out Of Company Because He Earns RM200,000 a Day

Published

People Are Not Happy With Sapura Energy Ceo'S Excessive Salary Of Rm200,000 A Day - World Of Buzz
Source: The Malaysian Reserve

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Many were shocked when the salary of a CEO from one of Malaysia’s biggest companies became known to the public recently.

According to The Star, the chief executive officer of Sapura Energy Bhd, Tan Sri Shahril Shamsuddin, was nearly ousted as the company’s director and CEO due to unhappiness over his salary. The CEO reportedly earned a whopping RM71.92 million in the past financial year, as of 31st January 2018. That’s roughly RM200,000 a day!

People Are Furious Over Sapura Energy Ceo's Excessive Salary Of Rm200,000 A Day - World Of Buzz

Source: the star

However, despite institutional investors, including the Employee’s Provident Fund (EPF) wanting to remove him as CEO, Tan Sri Shahril, who also owns a 17.44% stake in Sapura Energy, managed to keep his position after getting 82% of votes at the company’s annual general meeting yesterday (18th July).

Institutional investors along with the Minority Shareholder Watchdog Group (MSWG), deemed the CEO’s income excessive. MSWG general manager Lya Rahman was quoted by The Edge Markets as saying,

“This is the first time that the Institutional Investors Council has taken this collective decision to vote against (directors’ re-election). His pay package has been excessive over the years.”

“We oppose the re-election of the independent directors because every year we keep seeing the same thing happening, especially with the excessive director remuneration.”

In the company’s 2018 annual report, Tan Sri Shahril reportedly earned RM7.24 million and was even rewarded a RM55 million bonus, along with RM9.34 million in defined contribution plan, and RM348,000 in various benefits-in-kind.

The CEO’s total earnings over the past financial year (FY18) were reportedly equivalent to 1.22% of Sapura Energy’s revenue of RM5.89 billion in FY18.

What do you think of this CEO’s salary? Let us know in the comments below!

 

Also read: All Cabinet Members Will Get 10% Salary Cut to Reduce Govt Expenses, Tun M Says

Tun M: 10% Salary Cuts For All Pakatan Harapan Ministers - World Of Buzz

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

Collage 89 Collage 89
News11 hours ago

Johor Government May Implement a 4.5-Day Workweek in the Near Future

A 4-day workweek sounds ideal, but a 4-and-a-half day workweek doesn’t sound bad either. Johoreans may be in luck next...

My Post 1 2024 11 21T160023.537 My Post 1 2024 11 21T160023.537
News13 hours ago

“UPSR get D, SPM can get A” – PMX Responds to BERSIH Giving Him a Grade D in ‘Report Card’

Prime Minister Datuk Seri Anwar Ibrahim has opened up about BERSIH’s ‘report card‘ on his administration’s performance in conjunction with...

My Post 1 2024 11 21T114442.032 1 My Post 1 2024 11 21T114442.032 1
News17 hours ago

PDRM is Offering 60% Off Selected Traffic Summons at Govt’s 2nd Anniversary Event This Weekend!

In conjunction with the MADANI government’s 2nd anniversary on 24 November (Sunday), the Ministry of Home Affairs of Malaysia (KDN)...

Collage 17 1 Collage 17 1
News1 day ago

MCPF Calls for Vape Ban, Warns Addiction to Substances Can Lead to Unhealthy Behaviours Like Theft

The Malaysian Crime Prevention Foundation (MCPF) is urging for the sale of e-cigarettes or vape devices to be banned or...

Feat Image Lesen Feat Image Lesen
News1 day ago

Anthony Loke: Road Users in M’sia May Have to Pay for Physical Driving License Cards Starting Next Year

Transport Minister Anthony Loke Siew Fook today iterated that the Government will continue with the implementation of digital driving licenses...

Collage 15 2 Collage 15 2
News2 days ago

Filipino Couple Caught Living & Working Illegally in Malaysia Using Fake MyKads That Cost RM250 Each

A Filipino husband and wife were arrested during a raid on November 19 at a house in Pandan Indah yesterday...

Feat Image Apple Ind Feat Image Apple Ind
News2 days ago

Apple Offers to Increase Investment in Indonesia Tenfold to RM446 Million to Lift Country’s iPhone 16 Series Ban

Previously, we shared how the Apple iPhone 16 Series is banned from being sold in Indonesia until the tech giant...

My Post 1 2024 11 20T144359.263 My Post 1 2024 11 20T144359.263
News2 days ago

BERSIH Names Ismail Sabri the Best PM Since 2009, Calls Out PMX for Lack of Urgency with Reforms

In conjunction with the upcoming 2nd anniversary (24 November) of Anwar Ibrahim’s administration, The Coalition for Clean and Fair Elections,...

Announcement

Latest Videos



TRENDING TODAY