NEWS | SUNBIZ

$90K shared amongst the ATH Directors

Amalgamated Telecom Holdings (ATH) Group has budgeted $90,000 for the total board directors’ fees this financial year.A total of $62,500 was paid last  year. The announcement was made during the
28 Aug 2017 09:31
$90K shared amongst the ATH Directors
At the Amalgamated Telecom Holdings (ATH) Group annual general meeting. From left: Director Taito Waqa, ATH’s Head of Mergers and Acquisitions Naibuka Uluilakeba Saune, Director Tom Ricketts, Director Sanjay Kaba, Chairman Ajith Kodagoda, Director Arun Narsey, Chief Executive Ivan Fong and Director David Kolitagane. Photo: Selita Bolanavanua.

Amalgamated Telecom Holdings (ATH) Group has budgeted $90,000 for the total board directors’ fees this financial year.A total of $62,500 was paid last  year.

The announcement was made during the ATH annual general meeting last week.

Chief Executive Officer and Company Secretary, Ivan Fong said the directors’ fee was stable for 10 straight years.

Mr Fong said they did surveys across the region and had found out that companies in Fiji are on the low end with the payment of directors.

He added that one of the challenges for companies is, “If you want a good director, then you have to start paying for them too.

“We have budgeted $15,000 for the chairman and $12,500 for each directors,” he said.

Meanwhile, chairman Ajith Kodagoda confirmed to the Fiji Sun that all his and director Sanjay Kaba’s services are honorary.

“I as Chairman have not taken any single cent,” he said.

Mr Kodagoda added that compare to the market rate, and with the sacrifices that the directors do, the fees are still very small.

The total remuneration increased after 10 years although the company and the value have grown, said Mr Kodagoda.

There have been false claims on social media that the directors get $90,000 each.

This is what is known as “Fake News.”


Get updates from the Fiji Sun, handpicked and delivered to your inbox.


By entering your email address you're giving us permission to send you news and offers. You can opt-out at any time.


ATH


Valentine Promo Poster


Tower Insurance
Total
Subscribe-to-Newspaper
Fiji Sun Instagram
Subscribe-to-Newspaper