Media OutReach
Aon and FIDE FORUM Release Report on Directors Remuneration in Malaysia
- Findings show increasing attention on directors’ compensation from financial institutions
- Retainer fees for board chairs are typically 1.3 times to two times higher than board members
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 17 December 2024 – Aon plc (NYSE: AON), a leading global professional services firm, announced the findings from the 2024 Director’s Remuneration Report in collaboration with FIDE FORUM, a community of board leaders from the financial industry in Malaysia. The report explores the compensation practices of non-executive directors (NEDs) across financial institutions in Malaysia, delves into key elements such as board structure, composition, tenure and diversity, and analyzes the compensation of NEDs and how it aligns with their roles and responsibilities.
The report revealed the total cost of governance – the amount of compensation made to all board members for financial institutions – varies widely. The cost of governance incurred by participants of the survey ranged from RM 500,000 to RM 3,500,000 and is influenced by factors such as institution type and asset size. Larger organisations, particularly those with assets exceeding RM 100 billion generally incur higher governance costs. On average, the total cost of governance by type of financial institution is:
- Corporate banks – RM 1.2M
- Insurance companies – RM 0.9M
- Investment banks – RM 1.7M
- Islamic banks – RM 1.3M
- Retail banks – RM 1.8M
- Takaful operators – RM 0.8M
The study also found that retainer fees for board chairs are typically 1.3 times to two times higher than those of board members, while meeting allowances are consistent with no distinctions between board chairs and board members. Furthermore, 84 percent of participants do not provide compensation for information meetings, six percent provide compensation for regulatory meetings and 11 percent compensate NEDs for ad-hoc discussions.
In addition, 99 percent of the participants of the survey reported providing insurance to their directors, including directors & officers liability, group term life, group personal accident and travel insurance, while 56 percent provided medical benefits including inpatient, outpatient, dental, optical and wellbeing services. Apart from healthcare, 33 percent of participants reported providing learning and development opportunities that cover conferences and seminar fees, certifications, or online course subscriptions, over and above the training programs facilitated by the institutions.
All participating institutions reported the existence of an audit committee and risk committee, as mandated by Bank Negara Malaysia (BNM), the central bank of Malaysia. However, only 92 percent of participants reported having a nomination committee and remuneration committee, often combined, despite these also being mandated by the BNM. The study found this is due to subsidiaries having these matters settled at a wider group level rather than at the individual institutional level.
Rahul Chawla, partner and head of Talent Solutions for southeast Asia at Aon, said “There is increasing demand for quality talent in businesses not only at executive levels, but also at the company board level. Companies need directors who are experts in their respective fields and who can significantly impact the company’s growth and overall corporate governance. However, directors often operate in a very complex environment which not only requires them to leverage diverse skills to provide stewardship but also be open to increasing shareholder and public scrutiny. By understanding these trends, organisations can better align their compensation practices to attract and retain the right directors while contributing to the overall growth and sustainability of their organisation.”
Data from the survey confirmed that boards have good diversity across tenure, gender and age. According to the survey, about 70 percent of institutions have their board chair represented on at least one board committee and 87 percent of boards have at least one woman as director, with 33 percent having three or more women directors on their boards. Additionally, 67 percent of directors are over 60 years old with 13 percent of directors being over 80 years of age. With regard to tenure, 59 percent of independent NEDs served the board for one to six years while 48 percent of non-independent NEDs have tenures ranging from one to nine years. This indicates there is a good mix of new and established directors on boards with new directors who may offer fresh perspectives while directors with longer tenures holding institutional knowledge.
Datuk Kamaruddin Taib, Chairman of FIDE FORUM said, “Across jurisdictions, remuneration policies are closely monitored alongside stringent corporate governance regulations. Directors should be compensated in a manner that preserves the effectiveness of board oversight functions. After all, the primary role of a director is to uphold good governance – not only to ensure institutional performance but [to protect] the interest of all stakeholders which is part of ensuring financial stability that [reinforces] confidence in financial institutions and markets.”
More information about Aon in Asia can be found here.
Hashtag: #Aon
The issuer is solely responsible for the content of this announcement.
About the NED report
The NED report delves into key elements such as board structure, composition, tenure, diversity and remuneration and provides practical guidance for NEDs to ensure their compensation aligns with their roles and responsibilities. A total of 70 FIDE FORUM member institutions completed the survey, representing approximately 70 percent of financial institutions in Malaysia of which 21 percent are listed in Malaysia.
About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.
Follow Aon on newsroom and sign up for news alerts here.
Disclaimer
The information contained in this document is solely for information purposes, for general guidance only and is not intended to address the circumstances of any particular individual or entity. Although Aon endeavours to provide accurate and timely information and uses sources that it considers reliable, the firm does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose of any content of this document and can accept no liability for any loss incurred in any way by any person who may rely on it. There can be no guarantee that the information contained in this document will remain accurate as on the date it is received or that it will continue to be accurate in the future. No individual or entity should make decisions or act based solely on the information contained herein without appropriate professional advice and targeted research.
Strategic Selection: A Global Education Hub
For students planning to study abroad, choosing a university often means balancing academic reputation with a curriculum that aligns with current industry needs and global trends. Hong Kong’s blend of Eastern and Western cultures, strong academic institutions, and global career pathways makes it a natural draw. Through CUHK’s Scholarship Nomination Programme for Vietnamese students, Dat identified a programme that stood apart. “CUHK quickly became my top and only choice because of its strong reputation, supportive community, and the unique major I was passionate about,” he shared.
Bridging Technical Rigour and Holistic Education
Since joining the Faculty of Engineering, Dat’s academic experience reflects a broader transformation in engineering education. The SEEM curriculum continuously challenges students to think critically and solve complex operational problems. Its unique blend of engineering principles and economic theory equips students to tackle real-world business challenges. Dat has especially valued courses that combine quantitative problem-solving with practical business applications.
Beyond his major, CUHK’s University General Education courses has allowed Dat to explore interdisciplinary fields beyond engineering, reinforcing a holistic perspective that is increasingly valued by global employers.
A Vibrant Campus Environment and Cross-Cultural Connection
Outside the lecture hall, Dat has built a rich university life. He participates in cultural exchange workshops, joins language exchanges with international students, volunteers at campus events, and explores Hong Kong through hiking trips.
One memory stands out in particular: celebrating the Mid-Autumn Festival on campus with close Vietnamese friends. “Sharing these special cultural moments made me feel truly at home and gave me more confidence adapting to university life,” he noted. For Dat, CUHK is defined by the balance of academic rigour and inspiring community.
CUHK’s Systems Engineering and Engineering Management Programme
The SEEM programme prepares graduates to manage complex, data-driven systems across modern industries by integrating engineering technology with management. Key highlights include:
- Specialised Streams: Offers focused specialisation streams in Business Information Systems and Decision Analytics.
- Analytical Toolkit: Trains students in advanced mathematical tools including optimisation, stochastic modelling, and computer simulation.
- Technology at the Core: Infuses core engineering studies with cutting-edge expertise in machine learning, big data analytics, and artificial intelligence.
- Global Career Paths: Equips competitive graduates for prominent positions in asset management, information technology consulting, and e-commerce supply chain management.
For more information about CUHK’s undergraduate programmes, visit https://admission.cuhk.edu.hk/.
Hashtag: #CUHK
The issuer is solely responsible for the content of this announcement.
Media OutReach
#legend Celebrates 10+ Years with Major Digital Milestone as Chairman Bruce Rockowitz Highlights Next Growth Chapter
Founded in Hong Kong, #legend has developed into a recognized destination for readers seeking curated coverage at the intersection of luxury, culture, and contemporary lifestyle. The platform’s editorial scope spans fashion, watch and jewellery, beauty, music, art and design, dining, travel, tech, motors, and wellness, with a focus on the people and ideas shaping modern culture.
“The new readership milestone signals more than audience growth. It marks a broader phase of momentum for the brand as #legend increases editorial investment across its core Culture, Watch and Jewellery, Fashion, Beauty, and Lifestyle verticals while continuing to deepen relationships with luxury advertisers and collaborators,” said Bruce Rockowitz, Chairman of #legend. The print and digital publication currently works with 150+ brand partners, reflecting sustained market confidence in its editorial positioning and audience relevance.
Over the past 10+ years, #legend has published more than 100 cover stories featuring influential figures and culturally significant voices. That editorial body of work has helped define the brand’s identity in Hong Kong’s media space, where readers increasingly seek quality over volume and distinct perspective over generic content. As print and digital media becomes more fragmented, #legend’s growth points to continued demand for trusted storytelling with a clear cultural lens.
“Reaching more than 500,000 monthly readers on our digital platforms is an important moment for us, especially as we look back on over a decade of building #legend,” said Steve Rockowitz, CEO & Publisher of #legend. “It reflects the strength of our editorial direction, the loyalty of our audience, and the value of creating stories that connect culture with lifestyle in a way that feels relevant to Hong Kong and the region.”
As part of its next stage of development, #legend is placing greater emphasis on the categories that have shaped its readership base and brand identity. That includes continued focus on premium storytelling in culture, watch and jewellery, fashion, beauty, and lifestyle, along with expanded collaboration across its creative and commercial network. The company said these priorities are intended to strengthen both audience engagement and long-term partnership value.
The milestone also highlights the publication’s role in a changing luxury media environment, where advertisers are increasingly selective about context, audience alignment, and editorial quality. By combining scale with a distinct local voice and premium subject matter, #legend continues to position itself as a strong print and digital platform for both readers and brand partners in Hong Kong.
Bruce Rockowitz and the business of media growth
Bruce Rockowitz has recently spoken about the practical role of innovation and technology in building stronger businesses across media and other consumer-facing sectors. In reported commentary, he has emphasized the value of tools that improve personalization, audience engagement, operational efficiency, and subscription retention, while maintaining that creativity, judgment, and human connection remain central to brand building. That perspective aligns with broader industry shifts as digital publishers look for sustainable ways to grow audience loyalty and commercial relevance.
With its latest audience milestone, #legend is entering its next chapter from a position of measurable traction. The company’s 10+ year track record, 500K+ monthly readership, 100+ cover stories, and 150+ brand partners together reflect a publication that is not only established, but still building.
Hashtag: #legend
The issuer is solely responsible for the content of this announcement.
About #legend
#legend is Hong Kong’s premier digital destination for fashion, beauty, culture, and the extraordinary lives of the city’s most influential figures. Founded in Hong Kong, #legend has grown from a local publication into an influential voice in Asian luxury lifestyle media. The platform covers Culture, Watches & Jewellery, Fashion, Travel, Wellness, Design, Beauty, and related verticals, through print, digital, social media, and event experiences, with a mission to celebrate creativity, innovation, and the pursuit of excellence, connects influential audiences with the people, brands, and ideas shaping the future of luxury living.
For more information, visit: https://hashtaglegend.com/about
Media OutReach
5.096 Million Units Exported in Six Months: Beyond the Headline Figure, China is Reshaping Global Automotive Rules
The Chery Fulwin T7 (marketed overseas as the LEPAS L6) serves as a flagship model representing this transformation. Designed as a “born-global” vehicle, it adopts a reverse roll-out strategy—debuting in international markets prior to initiating domestic pre-sales.
Industry observers note that the significance of Chinese automakers participating in the formulation of global standards far outweighs mere export volume. Traditional automotive powerhouses are now poised to face increasingly formidable competitors.
The issuer is solely responsible for the content of this announcement.
