Keppel President Lu Zhenhua's 2024 Salary Matched 2023's 9.01M Yuan

The President of Keppel, Lu Zhenhua, received a salary of 9.01 million yuan last year, which is the same as in 2023.

Keppel released its 2024 annual report on Friday (March 28), showing that nearly half of Lu Zhenhua's compensation last year came from stock awards. He received stock awards of 4.45 million yuan under the performance share plan and restricted stock plan, a decrease of 11% from 2023.

His fixed salary and performance-related cash bonus were 1.29 million yuan and 3.27 million yuan respectively, up 3% and 20% from 2023.

According to Keppel's full-year results released in February, due to the losses incurred by the legacy assets of the Offshore & Marine business (O&M) and terminated businesses, Keppel's net profit for the fiscal year 2024 declined by 77% year-on-year to 940 million yuan.

Excluding the impact of the offshore and marine legacy assets, the company's net profit from continuing operations for the full year increased by 5% year-on-year to 1.064 billion yuan, equivalent to a return on equity (ROE) of 10.1%, higher than 9.5% in the fiscal year 2023.

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