Third CDL director resigns; firm sets up group to focus on contentious Sincere investment

Singapore

ANOTHER director of City Developments Limited (CDL), Tan Yee Peng, has resigned, while the company said it has set up a special working group that will focus on improving Sincere Property Group's liquidity and profitability.

Options include a review of potential divestments of assets and the restructuring of existing liabilities of the China-based real estate group, CDL said on Monday.