The property developer’s recent decision to pay RM2.7 million a year to its own founder and major shareholder in a short-term advisory role has raised eyebrows. Especially when his CEO daughter gets just RM295,000 a year.
Simple mah, bcos LKY is a tan sri so must eat and drink better also.....? (shit also smell good ????) The daughter as a CEO although is cheap at $295k a year, but cannot perform, free also no use right...?
I think the story for brem wont repeat in CHHB d. Last time when nan yang introduced brem, the stock limit up. Now a lot ppl are aware of this already. Thus now before the nanyang released the introduction, the insider already started to collect. Thus when the news released on monday, they know all the small fish will start to snatch, thus they started to throw off when all the small fish crazily snatch. that's why there is a shooting star on monday. Haiz i oso kena trapped.
Lee will be paid RM225,000 a month for two years for his advisory services. To put things in perspective, his own daughter Dianna Lee Cheng Wen who is group CEO of Country Heights earns RM295,000 a year or RM24,583 a month. The company will be forking out RM2.7 million per annum and a total RM5.4 million for Lee’s services.
A company advisor earning almost ten times more than the group’s head honcho? Which begs the question, who is the real leader of Country Heights?
In the announcement, Country Heights highlighted the fact that Lee had been generous in giving the company interest-free loans in the past and foregoing a basic salary in difficult times, especially during the 1997-98 Asian financial crisis.
So is that what this is all about, some kind of circuitous and belated payback for Lee’s munificence?
Hey, it is a public company and shouldn't be treated by your whims and fancy. Fair enough, you have advanced a huge loan to the company interest-free during the Asian Financial Crisis, still by not doing so the company would have gone under and being the largest shareholder, you are the one that will be impacted the most! So please don't come around and talk cork and bull story for being a "saviour" then.
His vague new role of over-compensated advisor only sends mixed signals to investors and could possibly undermine the company’s top management, not least his own daughter who is group CEO.
Country Heights Grower SchemeLee’s advisory role could also diminish his stature and public image if it is perceived as an easy way to line the pockets of an already wealthy man. Considering that Lee’s reputation took somewhat of a battering last year with the ill-fated Country Heights Grower Scheme (CHGS), he could have taken the high road and generated some much needed goodwill by providing his services for free, or perhaps just a nominal fee.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Mark T Bird
1,444 posts
Posted by Mark T Bird > 2014-02-12 11:19 | Report Abuse
Yes, yes indeed :-)