Page 141 - Urban Renewal Authority 2023-24 Annual Report

6. Operating deficit before income tax (Continued)

Operating deficit before income tax is arrived at after charging/(crediting) the following items: (Continued)

(b) Managing Director, Executive Directors and senior management’s remuneration paid or payable
during the year

2024

Provident
fund scheme Variable
Fees Salaries contributions Sub-total pay Total

$’000 $’000 $’000 $’000 $’000 $’000
Managing Director
– Wai Chi-sing – 4,692 – 4,692 1,401 6,093
Executive Directors
– Carolin Fong Suet-yuen – 3,082 18 3,100 770 3,870
– Wilfred Au Chun-ho 1 – 2,351 300 2,651 588 3,239
– Eric Poon Shun-wing 2 – 887 168 1,055 221 1,276
9 Senior management staff &
2 Ex-senior management staff 1 – 23,551 2,641 26,192 6,692 32,884

Total 3 – 34,563 3,127 37,690 9,672 47,362

2023

Provident
fund scheme Variable
Fees Salaries contributions Sub-total pay Total

$’000 $’000 $’000 $’000 $’000 $’000
Managing Director
– Wai Chi-sing – 4,646 – 4,646 1,388 6,034
Executive Directors
– Eric Poon Shun-wing – 3,084 393 3,477 770 4,247
– Carolin Fong Suet-yuen 4 – 1,524 9 1,533 381 1,914
– Ian Wong Wai-kuen 5 – – – – – –
9 Senior management staff &
5
1 Ex-senior management staff – 22,794 2,385 25,179 6,612 31,791

Total 3 – 32,048 2,787 34,835 9,151 43,986

Notes:
1. The Executive Director ceased to be a senior management staff on 14 July 2023 and assumed
his role with effect from 15 July 2023.
2. The Executive Director retired on 14 July 2023.
3. Excluding compensation in lieu of leave in the aggregate sum of $881,000 (2022/23: $938,000).
4. The Executive Director assumed her role with effect from 3 October 2022.
5. A senior management staff was appointed as Executive Director from 6 January 2022 to
2 October 2022 on top of his current employment as senior management staff.

URA ANNUAL REPORT 2023-24 139