SingPost Halves Sacked CEO Vincent Phang's Pay to $616,400

Payout comprised benefits, provident fund contributions and $570,600 in fixed salary

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Former Singapore Post group chief executive Vincent Phang, who was dismissed over the mishandling of a whistleblower complaint, received $616,400 in remuneration for the financial year ended March 31, the company's latest annual report disclosed.

It did not indicate if Mr Phang, who was fired by SingPost on Dec 21, had his salary pro-rated. He had received about $1.2 million in the previous financial year.

According to the annual report released on June 24, the payout comprised $570,600 in fixed salary, $10,500 in provident fund contributions and $35,200 in benefits. The company's benefits generally include medical and flexible allowances, as well as other perks such as car allowance and long service awards, where applicable.

Fired along with Mr Phang was former group chief financial officer Vincent Yik, and former chief executive of SingPost's international business unit, Mr Li Yu, after the top executives were found to be negligent in the handling of the internal investigations over a whistleblower's report.

The exact remuneration for Mr Li was not disclosed in the report.