Lian Beng Holds Back on Family Member Pay Disclosure
In a move that’s left the SGX a bit on edge, Lian Beng Group said it won’t show the salaries of a handful of staff who’re either relatives of a director, the CEO or a big shareholder. The company argues that revealing those numbers could make it hard to keep top and middle‑management talent in the mix.
Why the draw‑down on disclosure?
SGX wanted the construction‑and‑property giant to spell out the roles of five aged‑but‑still‑active employees and to put their pay into $100,000 bands, telling us the top limit. Lian Beng refused and gave a thumbs‑up that this detail is “sensitive and confidential.”
Bottom line: if you look at the room for talent that’s shrinking every day, there’s a real worry that cutting the hair off these figures could give competitors a sharp edge or even spark improper “peer‑comparison” poker games.
Meet the people in question
- Ong Sui Hui – senior contracts manager (since the 1990s)
- Ong Lee Yap – purchasing director (started 1988)
- Ong Phang Hoo – project director (1990s)
- Ong Phang Hui – plant & machinery director (1990s)
These four senior fire‑fighters have been with the company for years. The board argues that pulling their salaries out into the open could let rivals know exactly where to place offers and why they’re stumbling over big‑name talent.
TL;DR about Ong Eng Keong
Ong Eng Keong is the executive director and CEO of SLB Development, a Lian Beng subsidiary that’s listed on Catalist. Unlike the other four, his remuneration is decided by a separate board and remuneration committee at SLB, and been fully disclosed in SLB’s FY2022 annual report.
Key takeaway for SGX’s tightening playbook
On September 13, SGX announced plans to force companies to spit out the exact dollar figures for CEO and director pay — no more salary bands. With only 35% of firms showing director numbers in dollars and a mere 18% for CEOs, most are still keeping their pay levels mum.
Despite the controversy, Lian Beng’s shares stayed all‑in‑one‑place, closing flat at $0.54 on Tuesday. The News first broke the story in The Business Times.
