Remuneration Policy
Onshore Personnel
Shih Wei provides fair and market-competitive compensation to attract, retain, and motivate talent. An annual performance appraisal is conducted for all employees and serves as the basis for bonus distribution. Comensation primarily includes monthly salary (base pay and meal allowance), performance bonus, festival bonus, and employee remuneration.
Basic wage
Pay is referenced to job content, experience, and seniority, and selection is based primarily on professional competence.
Employee Compensation
Under Article 32 of the Articles of Incorporation, if there is annual profit (before employee and director remuneration, and before tax), no less than 2% is appropriated as employee remuneration and no more than 5% as director remuneration.
Salary Adjustment Mechanism
Adjust employee salaries with reference to the company's operating performance for the year, market salary levels and employee personal performance.
Equal Pay for Equal Work
The Company complies with labor laws and the Act of Gender Equality in Employment. Starting salaries for new hires are higher than the statutory minimum wage. Pay is referenced to job content, experience, and seniority, and selection is based primarily on professional competence. Equal pay for equal work is upheld; no preferential treatment or discrimination is permitted on the basis of gender, age, ethnicity, nationality, religion, or political stance.
| Employee Category (Base salary) |
Female | Female |
|---|---|---|
| Senior management | 0.85 | 1 |
| Management | 0.72 | 1 |
| Staff | 0.87 | 1 |
| Employee Category (Compensation) |
Female | Male |
|---|---|---|
| Senior management | 0.85 | 1 |
| Management | 0.83 | 1 |
| Staff | 1.17 | 1 |
Note:
- Base salary: Monthly fixed recurring pay, including base pay and meal allowance.
- Total compensation: Annual total remuneration, including performance bonus, festival bonus, employee remuneration, etc.
- Statistics include those still employed as of December 31 of the year; no exclusions were made for seniority, skills, or job content.
- Calculations are based on fixed pay in December of the year.
- Senior Management refers to the highest head of each department and assistant manager level and above.
- Full-time Employees include all employees.
- Average training hours (male or female) for each category = total training hours for that gender in the category / year-end headcount for that gender in the category.
For new hires, salaries are determined with reference to prior work experience, competencies, and market rates for the position, yet higher than the statutory minimum wage. In 2024, the average salary for entry-level employees (female and male) was 1.72× Taiwan’s local minimum wage
The average wage of the female and male grassroots personnel in Shih Wei Navigation is 1.72 times the local minimum wage in Taiwan.
Shih Wei Navigation discloses the salary information of all non-managerial full-time employees as prescribed by law, makes regular declaration and discloses such information on
The ratio of the highest individual's annual total compensation to the median annual total compensation of employees for the year 2024
| Annual total compensation ratio(1) | 3.72 |
|---|---|
| Change in the annual total compensation ratio(2) | 0.19 |
Note:
- Annual total compensation ratio = Annual total compensation of the highest-paid individual / median of all employees’ annual total compensation (excluding the highest-paid individual).
- Annual change ratio in total compensation = Percentage increase in the highest-paid individual’s annual total compensation / Percentage increase in the median of all employees’ annual total compensation (excluding the highest-paid individual).
- The Company uses the TWSE requirement for disclosure of “Salary information of full-time employees not in managerial positions” as the statistical basis to disclose the highest individual’s annual total compensation and the median of full-time employees. “All employees” includes those newly hired or separated during the year; for calculation, their annual compensation is annualized.
Sea Crews
Salaries are determined with reference to job content, experience, competencies, and certificates, upholding equal pay for equal work. Seafarer wage baselines follow International Transport Workers’ Federation (ITF) standards and do not vary due to gender, age, ethnicity,
religion, political stance, or marital status.
Depending on circumstances, each seafarer may receive bonuses such as seniority/return bonuses, cleaning and hatch-operation bonuses, deck/engine maintenance bonuses, or additional awards for special meritorious performance as approved by the Company’s Rewards and Penalties Committee.
Bonus calculations vary by seniority or work assignment; therefore, it is difficult to calculate a female/male ratio for salary and total compensation.
Remuneration of Directors and Managers
Director remuneration structure and policy are set in the “Articles of Incorporation” and the “Regulations Governing Compensation for Directors and Managers”. ESG performance indicators are not yet included in directors’ KPIs. Except for directors who also serve as employees, there are no pensions, severance, bonuses, or clawback mechanisms.
| Directors | The Remuneration Committee sets each director’s pay at 0% ~ 150% of industry benchmarks based on participation and contribution. Regardless of profit or loss, the Company grants NTD 3,000,000 annual salary to the Chairperson and NTD 1,000,000 annual salary to each director, pro-rated by days in office during the year. |
|---|---|
| Independent directors | Regardless of profit or loss, each independent director receives: 1. NTD 10,000 per month 2. NTD 1,000,000 per year Each pro-rated by days in office. |
| Managers | The Remuneration Committee sets manager pay at 0% ~ 150% of industry benchmarks based on participation and contribution. |
| Employees | Starting salaries for new hires are negotiated by labor and management based on job complexity, responsibility, and education/ experience; salary adjustments and bonuses are planned per the “Employee Work Rules” and individual performance appraisals. |