FSL Trust Management Responds to SGX-ST Query on CEO Remuneration Disclosure
FSL Trust Management Discloses CEO Remuneration Following SGX-ST Query
Key Highlights from the Announcement
- Full Breakdown of CEO Compensation Released: FSL Trust Management has provided a detailed breakdown of CEO Roger Woods’ remuneration for FY2024, following a request from the Singapore Exchange Securities Trading (SGX-ST).
- Compliance with Listing Rules: The disclosure was made to comply with SGX Listing Rule 1207(10D), which requires transparency regarding the compensation of directors and the CEO of the trustee-manager.
Detailed Remuneration Disclosure
For the financial year ended 31 December 2024, the CEO of FSL Trust Management Pte. Ltd., Mr. Roger Woods, received the following compensation:
| Name |
Salary (US\$) |
Benefits (US\$) |
Cash Bonus (US\$) |
Total Remuneration (US\$) |
| Roger Woods |
369,120 |
8,533 |
30,636 |
408,289 |
- Salary: US\$369,120
- Benefits: US\$8,533 (including medical and other benefits in kind, calculated as direct costs to FSL Asset Management)
- Cash Bonus: US\$30,636 (variable, based on group and individual performance for FY2024)
- Total Remuneration: US\$408,289
Important Details for Shareholders
- Remuneration Payment Structure: It is important for shareholders to note that Mr. Woods is not employed or paid directly by the Trust itself. His remuneration is paid by FSL Asset Management (FSLAM), which charges a management fee to the Trust for the services rendered. This means changes in management fees or remuneration packages could indirectly impact the Trust’s financials.
- No Executive Directors: There are no executive directors on the Board. All management personnel, including the CEO, are remunerated by FSLAM, not directly by the Trust.
- Potential Impact on Share Value: Transparent disclosure of remuneration, especially in response to regulatory queries, can bolster investor confidence in governance. However, unless there is a material change in the compensation structure or management fees, this disclosure in itself is unlikely to have a significant immediate impact on the share price. Investors should monitor any subsequent changes in the management fee arrangement or changes to the Board or executive team that might affect future cost structures and distributions.
Conclusion
This announcement addresses SGX’s requirements for greater transparency and aligns with best practices in corporate governance. While the information disclosed is important for shareholder awareness and regulatory compliance, there is no indication of drastic change in the management cost structure or executive compensation policies that would likely move the share price in the near term.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should perform their own due diligence and consult with their financial advisors before making investment decisions.
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