A deadly outage in Australia and others in Singapore led Singtel to cut executive pay despite posting strong profits
Singtel CEO Yuen Kuan Moon received S$6.8 million (US$5.3 million) for the financial year ended March 31, down 16.9 per cent from S$8.2 million a year earlier, according to the company’s annual report released on Tuesday and first reported by The Straits Times.
The pay cut came even as Singtel’s net profit rose 39.5 per cent to S$5.6 billion and underlying net profit increased 12 per cent to S$2.8 billion.
The company said the reduction in pay reflected “material operational and reputational issues”, including network outages at its Australian subsidiary Optus and disruptions in Singapore.