CORPORATE governance experts at a forum here on Wednesday have called for more transparency on the issue of executive pay.

Mrs Lee Suet Fern, senior director of Stamford Law Corp, said that directors generally try and keep a congenial and colleagial relationship with the chief executive officer.

'But in determining his pay, there is a need to be sensitive that directors are acting on behalf of shareholders."

Mrs Lee also said that some CEOs ask for higher salaries based on the size of the companies they run, which may not be totally appropriate.

She added: 'Whilst size of company is a relevant factor, we should not allow it to be the chief determinant. CEOs are providing an important management and leadership role but the capital at risk is that of shareholders.'

Executive pay is one of several governance issues that have been put under increased scrutiny in the post-crisis world, with countries like the United States introducing new laws on compensation.

More transparency on pay