Singapore property magnate seeks to oust son in boardroom battle

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The story "Singapore property magnate seeks to oust son in boardroom battle" was covered 13 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 13h ago

Singapore property magnate seeks to oust son in boardroom battle - Financial Times

Quick Summary:

CDL suspended trading in its shares on Wednesday “in view of the disagreement within the board in relation to the composition and constitution of the board and the board committees”, it said.

City Developments Limited was founded in 1963 and was taken over by the Kwek family in 1972.

The elder Kwek said his son’s leadership had put the business in “a precarious position”, pointing to ill-fated investments in China and the UK.