In a statement published on their corporate website, the company said: “There has been chatter based on an Asian talk show commentary, which claims that Ho Ching’s annual salary is around $100 million. This claim is false.
“Furthermore, Ho Ching’s annual compensation is neither the highest within Temasek, nor is she amongst the top five highest-paid executives in Temasek.”
Madam Ho is the wife of Prime Minister Lee Hsien Loong.
The statement added: “Temasek has a long-term ownership mindset. This includes its compensation framework to align employee and shareholder interests over economic cycles. This is part of our ethos of doing the right thing, as a forward-looking institution.
“Incentives focus on long-term performance, and ensure employees share gains and pains alongside Temasek’s shareholder during the economic cycles.”
Temasek also said in the statement that deferred compensation is an integral part of the organisation’s compensation, and clawbacks have been applied during years where the performance requires it.
“We also review compensation practices across the financial industry annually. This is an added check to support talent attraction and retention, within the context of our compensation framework,” it said.