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Pay cuts for heads of Singapore property firms

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Leslie Yee

Leslie Yee

Published Thu, Apr 15, 2021 · 09:50 PM

Singapore

PROPERTY group City Developments' (CDL) executive chairman Kwek Leng Beng had his total remuneration plunge 82 per cent last year. He received S$1.63 million in 2020, down from S$8.89 million in 2019.

CDL recorded a full-year net loss of S$1.92 billion for 2020, reversing from a S$564.6 million profit in 2019. This was CDL's first full-year loss since the early 1970s.

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