Sapura Energy's Shahril grilled over excessive remuneration

KUALA LUMPUR: Institutional investors, including the Employees Provident Fund (EPF), have expressed concern over the excessive remuneration paid by Sapura Energy Bhd to its president and group CEO Tan Sri Shahril Shamsuddin.
The Minority Shareholder Watchdog Group (MSWG) general manager Lya Rahman said the excessive remuneration has been a concern for several years and despite efforts by the group to reduce the amount, it is still excessively high.
Shahril's remuneration amounted to RM71.92 million despite the group suffering a pre-tax loss of RM2.32 billion for the financial year ended Jan 31, 2018 (FY18). In addition, the board did not recommend any dividend payment for FY18.
"There is no alignment of interest between the shareholders and management," Lya told reporters after the AGM today.