By Habhajan Singh and John Gilbert
Free Malaysia Today
November 8, 2012
Unionists riled up over 20 months’ bonus paid to plantation managers and senior staff for 2011.
KUALA LUMPUR: A good number of plantation managers and senior staff at conglomerate Sime Darby Bhd took home bonus payouts ranging from 12 to 14 months with their September pay cheque.
Some planters and staff from other divisions of one of the largest government-linked corporations (GLC) received bonuses of as much as 20 months for the bonus payout for 2011, according company officials.
It is understood the highest payout against what is seen as meagre bonuses given to lower-level workers at its wholly-owned subsidiary, Sime Darby Plantation Sdn Bhd, has raised the ire of its unionists.
“It’s a planters market [at the moment]. Last year, most plantation companies would have paid out good bonuses,” said one industry executive.
Sime Darby declined to comment on the bonus payout, with one offical saying that staff remuneration information was confidential.
All Malayan Estate Staff Union (AMESU), the union outfit for the plantation workers, is looking at the issue with a view to taking further action, sources familiar with the union told The Malaysian Reserve.
The issue comes at a time when Sime Darby is seeking shareholders’ approval for a proposed performance-based employee share scheme of up to the company’s 10% issued and paid-up ordinary share capital.
The proposed scheme, to be voted at its extraordinary general meeting (EGM) today, is meant to award shares to selected employees for the “attainment of identified performance objectives” of the group. It is supposed to “attract, retain, motivate and reward” the “valuable selected employees,” the company said in a circular to shareholders dated Oct 16. Continue reading “Huge bonus payout for Sime Darby bosses”