Concert Promoter Unusual Issues Apology for Incorrect Directors' Remuneration Disclosures
Singapore-based concert promoter Unusual apologized for providing inaccurate information about its directors' remuneration in its annual reports. The firm paid S$100,000 in fees and S$1.7 million in incentives to key management and board directors for the financial year 2024. However, the reports showed lower figures for directors' earnings, with the founders actually earning above S$750,000 each. Unusual attributed its 2025 net loss of S$22.5 million to various factors, including fewer completed projects and increased operational costs.
Homegrown concert promoter Unusual apologised for publishing inaccurate information about its directors’ remuneration in two annual reports after queries from an investor group. In the financial year of 2024, the firm paid S$100,000 in fees and S$1.7 million in incentives to key management and board directors. However, the annual report showed all seven directors receiving less than S$250,000 each, when in fact the founders earned above S$750,000. In the 2025 report, some directors received more than S$250,000 despite the header indicating otherwise.
Unusual reported a net loss of S$22.5 million for 2025, attributing it to various factors including fewer completed projects, fair value loss on financial assets, and higher operational costs. The firm acknowledged concerns about governance and performance-based pay, stating that incentives were based on performance metrics and contractual entitlements. Unusual plans to refine its remuneration structure to align with long-term performance.
According to the source: CNA.
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