Sunday, June 2, 2013

With ex-salary like that, how much commission will he demand today?

Maybank's CEOs annual income - RM4,697,000.00 (A government linked company) ?

Interesting information, that I found from the National Union of Banking Employees (NUBE) website

Maybank CEO’s income – a shocking discovery 
Circular No: 08/11 7 February 2011 


Salam NUBE!

Maybank’s Financial Records unveils the immoral income paid to the CEO, Abdul Wahid Omar who employed on contract basis for 2010: 


Type of Income
RM
(p/Annum)
RM
(p/Month)
RM
(p/Day)
Salary
1,080,000.00
        90,000.00
2,958.90
Bonuses
2,160,000.00
      180,000.00
    5,917.81
Pension
652,000.00
        54,333.33
1,786.30
Other Emoluments
91,000.00
      7,583.33
       249.32
Benefits in kind
79,000.00
6,583.33
       216.44
Director's Fee & other emoluments*
635,000.00
        52,916.67
    1,739.73
Grant Total of Maybank CEO’s income excluding Life, General Takaful and Family Takaful funds received for the year
4,697,000.00
     391,416.67
 12,868.49
Compensation for service

In 2009his total annual income was RM 4,227,000.00, an indecent increase of RM 470,000.00 in 2010.   His annual bonus is also equivalent to 24 months times his monthly basic salary plus all the other benefits. In 2 years he earned 48 months bonus, if he was employed in Maybank for 10 years, how much would he take from your contribution?

A special grade clerk at the maximum of the salary range earns only RM 56,462.00 per year, far lesser than the “benefits in kind” Maybank CEO takes for himself.

How can one (1) individual employed less than 3 years in Maybank justify his massive and immoral income whilst more than 5,000 Thousand NUBE members, in the lowest income group in Maybank are paid NOTHING for their contribution towards the performance of Maybank – One man’s sweat another man’s glory???

You can now see the connection between the sudden formation of the in-house union and the reason the in-house union is claiming NUBE’s demand of 80 months bonus is unjustified. These are traitors who preach they will protect Maybank non-executives.

As a Government Linked Company (GLC), Maybank is working against the aspirations of our PM to close income divide and this anti-PM aspiration is led by the CEO of the largest GLC in our banking industry.   It will be interesting to watch Maybank Berhad, become an international debacle for its union busting activities and for depriving NUBE members their rights.

NUBE members have contributed immensely to the profits of Maybank.  We have our pride and dignity.  NUBE will protect its members whilst the dirty and foul hands of Maybank in exploiting workers will be exposed both locally and internationally. 

One for all and all for one

Charles Hector

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