GLC bosses' pay and the Poll

Sime to record suitable movement upon bloggers?
Sime Darby is in a blogs again, this time over a due resolution for a coming AGM to approve share schemes for a employees as good as a bosses.

1. GLC bosses as good as their pay: A rewarding choosing emanate for a Opposition

My initial suspicion when we review Big Dog's posting was: "Ah, as good as a PRU13 is usually around a corner!" Because they have been government-linked, as their name suggests, GLCs have been a a one preferred punching bag of a Opposition. Especially so during choosing season. This one upon Sime Darby is going to be a big as good as easy aim for them in a run-up to a 13th General Election.

Forget about a intrigue being good for a 100,000 employees of Sime Darby. The Opposition doesn't care. Their focus will be on:

The fact which Sime Darby wishes to rewarda. a CEO andb. someone related to a Director

The fact which a CEO has been around hardly prolonged enough

The fact which Sime Darby had usually exited from a really severe vegetable patch which involved millions of RM in unexplained losses as good as alleged mismanagement.

And the ac tuality that those severe rags have resulted in during least a legal box filed by a former CEO opposite a Board of Directors, which is still on-going

Timing is everything.Just a alternative day, PAS' Mahfuz Omar lifted hell in Parliament over Tabung Haji CEO Ismee Ismail's compensate as good as perks. The guy's RM70k a month salary in 2011 has been lifted to RM85k from this year. He's overpaid, Mahfuz said, comparing Tabung Haji's distance to EPF's as good as Ismee's compensate to EPF CEO's compensate (RM50,000 a month). Read Mahfuz: Explain Tabung Haji CEO's compensate packet.

In a run-up to PRU12 in March 2008, a compensate as good as perks of GLC bosses became an choosing emanate to win a war of notice which Abdullah Badawi's regime was CEOs-friendly though did not really give dual hoots about a ubiquitous operative population and, therefore, wasn't which people-friendly. We can expect more strong attacks in a run up to PRU13.

2. Sime Darby's side of a story:

For Immediate ReleaseFriday, nineteen October 2012
False as good as erring allegations made opposite a Chairman, Board of Directors as good as comparison government of Sime Darby

Sime Darby is responding to sure allegations as good as accusations which have recently been posted upon sure blogs with regard to a due prolonged tenure incentive plan for eligible employees of a Group. The information contained in these blogs is wrong as good as to illustrate a opinions posted have been not founded upon fact. The due performance-based worker share intrigue is still theme to a capitulation of shareholders during ubiquitous meeting.
The dua! l blogs as good as a comments posted have caused annoyance to a Chairman, Board of Directors as good as a comparison government of Sime Darby. The association takes a serious view of these baseless accusations as good as a inferences therein as good as will take suitable movement to protect a reputation of a organization.
An official from Sime Darby has contacted one of a bloggers as good as informed him of his mistakes. Despite carrying told him of his errors a prior day, he has nonetheless to correct a offending post or mislay it, which suggests which his intentions have been malicious, vexatious as good as mischievous. The post has attracted unjustified attention as good as perpetuated his mistaken assumptions.
A outline of a erring statements as good as a tangible contribution is listed below:

No.

Accusations

Actual Facts

1.

EGM upon 8 Nov to approve a special grant for comparison employees in a form of free sharesSime Darby Bhd will hold an EGM upon 8 Nov 2012 to seek capitulation for a performance-based worker share scheme a intrigue which aims to expostulate prolonged tenure sustainable opening of a Group as good as to attract, retain as good as motivate employees based upon their opening as good as a accomplishment of sure opening conditions as good as targets. The accomplishment of these targets will raise sum shareholders earnings as good as a altogether opening of a association which will good all stakeholders.

2.

The prerogative is not to a 100,000 Sime Darby staff worldwide though usually to dual individuals.For employees operative in Malaysia, government team of all grades together with a comparison manager director will be eligible to experience in a due scheme. For those emplo! yees bas ed outward of Malaysia, government team of pursuit class VP II as good as above will be eligible to experience in a due scheme.

3.

Only dual employees have been nominated for a scheme, Dato Bakke for 3 million shares as good as Nur Tania Yusof for 200,000 sharesUnder a listing requirements, separate resolutions have been required to be upheld by shareholders to approve a grants of shares to Dato Bakke as a comparison manager Director as good as Nur Tania being a chairman continuous to a Director of Sime Darby Berhad. However all government team of VP II as good as above have been eligible to experience in a scheme. It is wrong to suggest which these dual individuals have been a usually dual who will good from a due scheme.

4.

The rehearse of giving away free shares is really oddSime Darby is not a initial organization in Malaysia to exercise such a performance-based share scheme. Other companies like Axiata, Bursa Malaysia as good as Maybank have implemented identical schemes earlier.

5.

Why is Sime Darbys Board of Directors during liberty to establish which comparison government or employees have been entitled for these free shares during a time when a open is demanding for larger accountability?The intrigue envisages a investiture of a Board committee to exercise as good as administer a due scheme. This is standard use in all organisations. It would be ridiculous to expect outmost parties to establish opening as good as rewards.

Other facts
In a box of a President as good as Chief Executive, a due performance-based worker share intrigue allows for a extenuation of amaximumof 3 million shares over a 10-year intrigue period. This series of shares will be vested upon a staggered basement as good as usually in a eventuality of exceptional opening both dur! ing part icular as good as craving level for a 10 years as good as theme to accomplishment of difficult performance-based conditions. The shares will usually be vested in a grantee three years after a grant, theme to vesting conditions. These criteria will apply to all eligible grantees.
The Board has built in safeguards into a routine which will safeguard which a interests of a association as good as a shareholders have been during all times safeguarded.
The blogs posted upon a performance-based worker share intrigue have been misinformed as good as simulate a miss of appreciation as good as bargain of attention practices upon performance-based prerogative schemes.

3. Click upon a links to review a offending postings.

a. SANTA MUSA IS COMING TO TOWNby Big Dog

b.WHAT IS SANTA MUSA UP TO?by A Voice

Big Dog has carried a couple to Sime Darby's clarification as good as we hold A Voice is additionally giving Sime Darby a right to a reply. That's a suitable thing to do.

Since 2006, a year of a "world's biggers camp companies' merger" which gave bieing born to Sime Darby, a dual bloggers have been blogging religiously about a transnational corporation. Their annals speak for themselves.