SINGAPORE: When Singaporeans hear about million-dollar salaries, it’s usually in the context of property launches, F1 ticket prices, or that viral TikTok about how much you need to retire comfortably. But what about the people steering Singapore’s corporate juggernauts?
Thanks to DollarsAndSense Singapore, we now have a front-row seat to the paycheques of the top five CEOs running some of the biggest listed companies on the Singapore Exchange (SGX). And the numbers are as jaw-dropping as a GCB in Nassim.
#1: Piyush Gupta – Former CEO of DBS
Total Pay: S$17.6 million (2024)
Topping the list is none other than former DBS CEO Piyush Gupta. Even though he handed over the reins to Tan Su Shan in March 2025, Gupta closed out 2024 with a smashing 57% increase in total compensation compared to the previous year.
Breakdown:
- Base salary: S$1.5 million
- Cash bonus: S$6.6 million
- Deferred remuneration (cash + shares): S$9.4 million
Gupta’s payday was boosted by DBS’s stellar year, marked by record profits and a return on equity in the high teens. Safe to say, he left the corner office with his legacy (and bank account) in excellent shape.
#2: Wee Ee Cheong – CEO of UOB
Total Pay: S$15 million (2024)
UOB’s CEO and Deputy Chairman, Wee Ee Cheong, was close behind, bringing in S$15 million. While that’s still massive, it was actually a 5% dip from his 2023 pay, despite UOB’s net profit rising to S$6.1 billion.
Breakdown:
- Base salary: S$1.44 million
- Bonus: S$13.56 million
UOB leans heavily towards immediate cash payouts, which might explain the fatter bonus component.
#3: Helen Wong – CEO of OCBC
Total Pay: S$12.8 million (2024)
OCBC’s Helen Wong isn’t just breaking the glass ceiling — she’s cashing in through it. Her 2024 remuneration rose 5.8% from the year before, in tandem with OCBC’s record S$7.6 billion net profit.
Breakdown:
- Base salary: S$1.2 million
- Bonus: S$6.8 million
- Deferred shares: S$4.5 million
- Benefits: S$332,000+
Wong’s consistent leadership has clearly translated into shareholder value — and a tidy bonus to match.
#4: Yuen Kuan Moon – CEO of Singtel
Total Pay: S$8.2 million (FY2025)
The telco titan took home a handsome S$8.2 million, up 16.8% from the previous financial year. And it’s not just about handphones and broadband — Singtel’s profits saw a five-fold jump thanks to a partial divestment of its Comcentre HQ.
Breakdown:
- Base salary: S$1.3 million
- Cash + restricted share award: S$4.4 million
- Performance shares: S$2.4 million
Who says telecom can’t be lucrative?
#5: Lim Hock Chee – CEO of Sheng Siong
Total Pay: S$7.1 million (2024)
From wet markets to Wall Street vibes, Sheng Siong’s Lim Hock Chee is the classic rags-to-riches story. His base salary grew to S$373,000, and his bonuses made up the lion’s share — because when your company stock climbs 42% in a year, the board takes notice.
Breakdown:
- Base salary: S$373,000
- Bonus: S$6.66 million
- Director’s fee + benefits: ~S$36,000
As a founder-CEO with 8% ownership, Lim’s real wealth is tied to the shares — so every basket of cai png counts.
Takeaway: Besides size, performance matters
While it’s clear that bigger companies often mean bigger pay, the details show a deeper layer. Performance matters. ROE (return on equity), net profit growth, and shareholder value all influence CEO bonuses, deferred shares, and even reputations.
Founder-led companies, such as Sheng Siong, tend to favour variable pay since their personal stakes are already high; in contrast, banks typically reward employees based on consistent metrics, including returns and growth.
In today’s age of pay transparency and accountability, these numbers aren’t just flexes. They give investors insight into how firms reward leadership — and how closely those rewards are tied to results.
Read related: GCB craze: How Singapore’s 10 Real-Life Crazy Rich Asians got rich enough to own their S$10M to S$100M+ homes
