THE salaries of chief executive officers heading government- linked companies (GLCs) will remain the same even in trying times, the house was told yesterday.

Deputy Finance Minister Datuk Kong Cho Ha said the government had no plans to slash the salaries of these CEOs despite the uncertain economic situation ahead.

"As the saying goes, if you pay peanuts, you get monkeys.

"The CEOs in GLCs are paid far less than what their counterparts are getting in the private sector."

Kong was replying to a question from Datuk Ibrahim Ali (Independent-Pasir Mas) who asked whether there was a proposal to slash by 50 per cent the salaries and allowances of the CEOs of GLCs in view of the uncertain world economic situation.

He said the CEOs' salaries were justified as they were entrusted with huge responsibilities.

"However, their salaries are still not as much as those in the private sector."

Citing 2007 as an example, Kong said the IOI Bhd CEO was paid RM21.6 million a year and the CEO of YTL Bhd earned an annual salary of RM9.6 million.

In comparison, the Tenaga Nasional Berhad CEO was paid an annual salary of RM1.1 million while the Sime Darby Bhd CEO earned RM2 million a year.

"With all due respect, the salaries of the CEOs of the GLCs are already low. We have to take into account the fact that the government is already underpaying them."

To another question from Datuk Baharum Mohamed (BN-Sekijang) who wanted to know the number of companies under Khazanah Nasional that made profits last year, Kong said of the nine companies under Khazanah, only one made losses.

Pos Malaysia was in the red because of investments incurred in Transmile Berhad.

-- The New Straits Times