SINGAPORE (Feb 26): CapitaLand’s board and senior management have taken the cue from parent company Temasek Holdings, in a belt-tightening measure amid the Covid-19 outbreak.

With effect from April 1, they will cut their own pay and directors’ fees by between 5% and 15%. A wage freeze has been implemented on all other staff at managerial level and above.

These measures, which will be reviewed six months after, were announced earlier this morning when the company reported its full-year earnings – which includes contributions from the newly-acquired Ascendas-Singbridge.

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