GGRAsia – Sands China president Wong saw compensation up in 2020

Sands China president Wong saw compensation up in 2020

Mar 31, 2021 Newsdesk Latest News, Macau, Top of the deck

Macau casino operator Sands China Ltd’s president and executive director Wilfred Wong Ying Wai (pictured in file photo) saw an increase in his executive compensation for 2020, when compared to the previous fiscal year.

Mr Wong – aged 68 and also the highest paid director of Sands China – saw his package for the year ended December 31, 2020 at US$5.69 million: US$2.72 million in salary; and US$2.83 million mainly related to the group’s share-based payment scheme, according to Sands China’s 2020 annual report filed with the Hong Kong Stock Exchange.

Mr Wong received no discretionary bonus in 2020, according to the document.

For fiscal year 2019, Mr Wong received nearly US$4.59 million in compensation: US$2.35 million in salary; US$1.50 million via discretionary bonus; and US$618,000 mainly related to the group’s share-based payment scheme.

Sands China’s shareholders had in June last year unanimously approved a one-year extension of Mr Wong’s contract, to February 2024.

Mr Wong has been Sands China’s president since November 2015. He had also served as the firm’s chief operating officer between November that year and February 2020, when he was replaced in the post by Sands China executive Grant Chum Kwan Lock.

Earlier this month, Sands China’s remuneration committee approved an increase to Mr Chum’s remuneration to US$1.8 million per year, plus an annual incentive of up to US$1.8 million, with effect from March 1, 2021, according to the annual report.