Aspen Group Discloses Exact Director Remuneration: Key Details That Could Impact Shareholder Value
Aspen Group Discloses Exact Director Remuneration: Key Details That Could Impact Shareholder Value
Key Highlights from Aspen (Group) Holdings Limited’s FY2025 Remuneration Disclosure
Aspen (Group) Holdings Limited (“Aspen”) has published a detailed response to a query from the Singapore Exchange Regulation (SGX RegCo) regarding its remuneration disclosures for directors and its chief executive officer for the financial year ended 30 June 2025. The company was required by SGX Listing Rule 1207(10D) to reveal the exact amounts and breakdowns of remuneration paid to each individual director and the CEO, including base salary, bonuses, directors’ fees, benefits in kind, and other incentives.
Why This Matters for Investors
This level of remuneration disclosure is significant for shareholders, as it provides insights into the company’s governance practices, potential conflicts of interest, and alignment between management incentives and shareholder value. Transparent reporting of executive pay can influence investor confidence and ultimately affect Aspen’s share price.
Detailed Breakdown of Director and CEO Remuneration
| Name |
Total Remuneration (S\$) |
Base/Fixed Salary and EPF (%) |
Performance-related Bonus (%) |
Directors’ Fees (%) |
Other Benefits (%) |
| Dato’ Murly Manokharan (President & CEO) |
1,468,320.00 |
100 |
0 |
0 |
0 |
| Dato’ Seri Nazir Ariff Bin Mushir Ariff |
309,350.00 |
91.45 |
7.43 |
0 |
1.12 |
| Ir. Anilarasu Amaranazan |
340,604.13 |
91.63 |
6.75 |
0 |
1.62 |
| Mr. Cheah Teik Seng* |
8,979.45 |
0 |
0 |
100 |
0 |
| Dato’ Alan Teo Kwong Chia* |
7,183.56 |
0 |
0 |
100 |
0 |
| Dr. Lim Su Kiat* |
18,273.97 |
0 |
0 |
100 |
0 |
| Dato’ Choong Khuat Seng |
28,750.00 |
0 |
0 |
100 |
0 |
| Mr. Lee Chee Seng |
69,973.48 |
0 |
0 |
100 |
0 |
| Mr. Lim Kian Thong |
56,925.00 |
0 |
0 |
100 |
0 |
- EPF refers to Employees Provident Fund contributions.
- Directors’ Fees for Non-Executive and Independent Directors are subject to shareholder approval at the upcoming AGM.
- *Retired/Resigned Directors: Mr. Cheah Teik Seng, Dato’ Alan Teo Kwong Chia, and Dr. Lim Su Kiat left the Board during FY2025.
Key Points for Shareholder Attention
- High CEO Remuneration: Dato’ Murly Manokharan, President and CEO, received S\$1.47 million, all as base salary and EPF, with no performance-related bonus or additional incentives. This could prompt scrutiny over pay-for-performance alignment.
- Directors’ Fees Subject to Approval: The remuneration for Non-Executive and Independent Directors will require shareholder approval at the upcoming AGM, presenting an opportunity for investors to influence governance.
- Board Changes: Three directors (Mr. Cheah Teik Seng, Dato’ Alan Teo Kwong Chia, Dr. Lim Su Kiat) have left the Board in FY2025, potentially impacting board oversight and company strategy.
- Transparency: Aspen’s compliance with SGX’s demand for exact remuneration figures is a positive move for transparency, potentially impacting investor perception and share price.
Potential Price Sensitive Factors
- Any shareholder activism or votes against the proposed directors’ fees at the AGM could signal governance concerns and affect Aspen’s share valuation.
- Investors may question the lack of performance-related bonuses for the CEO, especially if the company’s FY2025 results do not justify the high base salary.
- Changes in board composition may suggest shifts in strategic direction or management stability, which can be price sensitive.
Conclusion
Aspen’s disclosure of director and CEO remuneration responds directly to regulatory demands for transparency. The details reveal a high base pay structure for top management and several changes in the board lineup, both of which are noteworthy for shareholders. These disclosures may influence investor sentiment, corporate governance votes, and ultimately, the share price.
Disclaimer: This article is for informational purposes only and does not constitute financial advice or a solicitation to buy or sell securities. Investors should conduct their own due diligence and consult with their financial advisors before making any investment decisions.
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