Genting Bhd topped the list of companies that paid out higher remuneration to their directors last year, with a big payout of RM117.69 million, according to a Malaysian Business survey.

The top 20 companies forked out RM534.95 million last year, up 17 per cent from previously, while 600 companies surveyed, paid out over RM1 million.

Genting also had the highest remuneration band of RM113 million to RM113.05 million for a single director but did not name him.

The top executive listed is its Executive Chairman and Chief Executive Tan Sri Lim Kok Thay.

The second top company was IOI Corporation Bhd, which paid its boards RM60.30 million, up 7.1 per cent from 2010.

The public-listed company paid a remuneration band of RM56.75 million to RM56.80 million to its highest-ranking director.

"We assume that the recipient was IOI Corp Director and Founder Tan Sri Lee Shin Cheng," the Malaysian Business said in a statement today.

Genting's subsidiary, Genting Malaysia Bhd, which paid out more than RM48 million to its top executive, took the third spot.

The survey noted that the payout might have been made to the same person, taking into view the possibility of double counting.

Companies that lowered their boardroom remuneration last year include Berjaya Corporation Bhd, which paid out RM20.67 million or 12.5 per cent less to its board members.

The highest remuneration paid to a single director in the company was in the RM10.35 million to RM10.40 million band, also lower than the RM11.70 million to RM11.75 million paid out previously.

CIMB Group Holdings Bhd paid out RM16.49 million or 10.9 per cent less to its board members last year.

The remuneration paid to its Group Managing Director and Group Chief executive Officer Datuk Seri Mohd Nazir Razak last year was lower at RM8.70 million as compared with RM12 million in 2010. -- Bernama