Employment benefits that is worth your while

There are some employment benefits that would make you green with envy. Take Nazir Abdul Razak's share option benefits in Bumiputra Commerce Holdings Berhad for instance:

Base on the Directors' Report for year ended 31 December 2006, on 31 December 2006, he held 12,958,872 Bumiputra Commerce Holdings Berhad ordinary shares and another 19,644,389 employee share option exercisable at RM1.42 per share.

2007 Annual Reports and Accounts shows that on 7 January 2008, he exercised his option and converted all the 19,644,389 options into shares at exercise price of RM1.42 per share; costing him only RM1.42 per share RM27,895,032.

And as a loving husband, 4,550,000 shares was disposed to his wife and he is left with merely 28,053,261 ordinary shares on 31 December 2007

While he got the shares at RM1.42 per share on 7 Jan 2008, the issue price of ESOS to employees during 2007 ranged between premium of RM2.13 to RM3.05 (i.e. employees have to buy shares at range of RM3.13 to RM4.05).

Also during 2007, a private placement of 117,000,000 ordinary shares of RM1 each also took place and the new investors have to pay a premium of RM10.41 i.e. the price of RM11.41 per share.

Helluva staff discount if you ask me.


  1. I am no fan of this banker, but in order to be objective one should compare with similar positions in other banks as well.

  2. This is what a CEO gets in banks. BUT the only 'crime' or rather 'fault' he has is his brother the PM who overshadows him....Hey Nazir, by saying this will I get a plump executive position in CIMB...I am on your side.

  3. Fantastic money for CIMB CEO and those surround him.

    But those in middle level management really suffer badly becasue they have a very small medical benefit.

    AVP and VP level only get RM1,500 per year medical benefit for their whole family. Usually with a family of 4 to 5 they will exhaused their medical limit by May or June. And the rest of the year they got to seek either government General Hospital or go the chinese medical hall to purchase cheap medication.

    However, those with grade 36 Asst Mgr and below enjoys unlimited medical limit for their whole family.

    This is unfair!!! Only the cream and the lower runk enjoy unlimited medical limit.

  4. annom no 1, just look at the rest of the directors in the same list and notice the discrepancy