What about the 25% pay cuts Ganp? After I read the June 6th...

What about the 25% pay cuts Ganp?

After I read the June 6th announcement where NWT stated ‘In addition, executives have accepted a voluntary reduction in remuneration of 10 to 25% and have waived any short term cash bonuses’ I had to go and take a look at the Annual report from 2013 just to see the impact.

It became clear soon after why ‘Staff’ had become so vocal and supportive of the ‘CEO’.

$9.5 Million in executive payments in FY201, up a mere $1.5 Million from FY2012. Something like a lazy 15% increase?

Highlights included ½ a Million dollars in remuneration for ‘Chuck E Ellison' (down on the previous year believe it or not), $617K for Merv Kuek, up from a miserly $414K the previous year, $736k for Mr Matlock up from $569K the previous year and not forgetting the CEO.

THE CEO took a pay cut in FY2013, down from $2.2 Million to $2.1 Million. The cash component of his remuneration however went from a paltry $850K to $1.5 Million.

So what is the exact amount of cash bonus being waived by staff and is this just another piece of spin by the XXXX XXXXXXX? Looking forward to seeing the explanation in the Annual report, specifically seeing that line of $0 in cash bonuses and reviewing FY2014 cash and salary fees vs FY2013.

Corporate XXXXX , jobs for XXX XXX OR corporate errors? You be the judge?

Now let's get real AND get on with it. This company is predicting a $5-6 Million dollar loss for FY14, can't get a satellite in the air on time, blame everyone else for their problems, have major corporate governance issues, had a board that obviously were calling for THE CEOS head, have shareholders screaming for their pound of flesh and have a leader that's living in lalaland.

The Singaporeans will have their say in the coming months and like I, can't wait to see that satellite in the sky.

p.s. special thanks to HC Admin for allowing me to get my point across.