Singapore

THE son of real estate tycoon Kwek Leng Beng has been named deputy chief executive officer at City Developments Limited (CDL), the property group said in a Singapore Exchange filing on Monday morning. It also announced a new chief financial officer and other appointments, saying it aimed to improve its organisational structure as it ramps up diversification plans.

Sherman Kwek Eik Tse, 40, will assist the CEO, Grant Kelley, in overseeing and managing "key operating divisions" within the group, CDL said, adding that he would relinquish his positions as chief investment officer of the group and chief executive officer of CDL China.