How much will Dzulkifli Abd Wahab receive after the new fees?

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Dzulkifli Abd Wahab's Remuneration Post-Fee Adjustment

Following the implementation of a new fee structure, Datuk Dzulkifli Abd Wahab will receive a monthly fee of RM40,000 as the non-executive chairman of FGV Holdings Berhad. This represents an increase of RM15,000 per month compared to his previous compensation. The new fee structure officially took effect on June 24, and his annual remuneration as non-executive chairman has been raised to RM480,000 from RM300,000.
Increased Monthly and Annual Fees

The most significant change in Dzulkifli Abd Wahab's compensation is the monthly fee, which has been set at RM40,000. This new monthly rate translates to an annual figure of RM480,000. Prior to this adjustment, his annual fee as non-executive chairman stood at RM300,000, with a monthly equivalent of RM25,000.
Waiver of Committee Fees and Meeting Allowances

In addition to the increased board fees, Dzulkifli Abd Wahab has agreed to waive his RM40,000 yearly entitlement as the chair of the Board Sustainability Committee. This waiver will remain in effect until the next Annual General Meeting (AGM) scheduled for 2023. Furthermore, he will also forgo meeting allowances, which were previously set at RM2,000 per meeting.
Conversion of Car Allowance to Board Fees

FGV's board had previously proposed to provide a company car to the non-executive chairman, converting the RM180,000 annual car allowance into board fees. The intention behind this move was to align with market and sectorial norms, as companies generally do not monetize the provision of a company car benefit through allowances. Consequently, the total cash received by the non-executive chairman was intended to remain unchanged, with the converted amount being absorbed into his board fees. Dzulkifli intends to utilise an existing company car from a subsidiary, with a budgeted annual expense not exceeding RM180,000, as approved at the AGM.

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How much will Dzulkifli Abd Wahab receive after the new fees?

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