The manipulator hardly ever has any. His actions are so wicked as his own principles, which sheds interior conflicts, since there is no contradiction or discrepancy between what he thinks and what he does.
When feelings of guilt happen to start their way into his/her mind, he chucks them away, as he does not want them: he considers them useless obstacles to survival, power, control - stuff for the weak, if you will.
This does not mean that he does not know how to fake them: if need be, he can act guilty or put on a solemn admission of sorrow for what he has done, for the simple purpose of diverting, disorienting or soften his victim (victimism).