Hanwell Holdings (formerly: PSC Holdings)

[weijian]

Just curious. is it a norm for a company to like hanwell to buy a subsidiary tat seng , subsequently get fat salary from both side.


My understanding is that the salary for the director in hanwell is suppose to compensate them for managing the portion in consumer business & others.
Since the paycheck is already paid in tat seng.

I took a look at the ARs (i don't have prior knowledge of both companies) but as Tat Seng is 64% owned by Hanwell, Tat Seng's results are consolidated into Hanwell's. So Tat Seng's top/bottom line are already part of Hanwell's. As such, the remuneration published in Tat Seng's AR (subsidiary) is simply a subset of that in Hanwell's (parent) and are overlapping for those who take executive positions in both companies, ie. Chairman Yap and his young wife Dr Tang.