SINGAPORE, March 2 – A high-stakes father-and-son feud has plunged Singapore property giant City Developments Ltd (CDL) into turmoil, with the private boardroom dispute of one of...
Why 18 years in prison instead of death sentence for Navy cadet Zulfarhan’s six killers? Here are the Federal Court’s reasons
Laced with allegations of corporate missteps, governance breaches and personal entanglements, the fight threatens to escalate into a bruising court battle over control for a slice of the multibillion-dollar real estate empire. To block the alleged power grab, Kwek Leng Beng filed a lawsuit and later announced he had secured a court order to halt the changes to the CDL Group’s board and management.
“Due to her long relationship with the Chairman, efforts that were made to manage the situation were done sensitively, but to no avail.” “ people may make business mistakes in their careers and that is understandable, but circumventing corporate governance laws is a red line,” Kwek Leng Beng said. Its move into hospitality turned subsidiary Millennium & Copthorne Hotels into the finance hub’s largest international hotel group, with assets that include The Biltmore hotel in London’s Mayfair and Millennium properties in New York’s Wall Street and Times Square.
Property Father Son City Developments Ltd CDL Executive Chairman Kwek Leng Beng Sherman Kwek Forbes Singapore Exchange Straits Times Index STI Coup Lawsuit Dismissal
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