URA

118 (expressed in Hong Kong Dollars) NOTES TO THE FINANCIAL STATEMENTS 6. Operating surplus before income tax (Continued) (f) Managing Director, Executive Directors and senior management’s remuneration paid or payable during the year (Continued) 2017 Provident fund scheme Fees Salaries contributions Sub-total Variable pay Total $’000 $’000 $’000 $’000 $’000 $’000 Managing Directors  – Daniel Lam Chun – 943 – 943 – 943  – Wai Chi-sing – 3,208 15 3,223 963 4,186 Executive Directors  – Pius Cheng Kai-wah – 3,065 18 3,083 766 3,849  – Michael Ma Chiu-tsee # – 2,130 13 2,143 532 2,675 5 Senior management staff &  2 Ex-senior management staff # – 15,885 1,100 16,985 3,816 20,801 Total** – 25,231 1,146 26,377 6,077 32,454 ** Excluding compensation in lieu of leave in the aggregate sum of $508,000 (2016/17: $1,125,000). # The Executive Director ceased to be a senior management staff on 14 July 2016 and assumed his role with effect from 15 July 2016. 2018 2017 Their remuneration fell within the following bands: No. of No. of Individuals Individuals $500,000 to $1,000,000 – 1 $1,000,001 to $1,500,000 – 1 $1,500,001 to $2,000,000 1 – $3,000,001 to $3,500,000 2 1 $3,500,001 to $4,000,000 5 5 $4,000,001 to $4,500,000 2 2 $5,000,001 to $5,500,000 1 – Total 11 10