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COMMENTARY

Can CDL become a powerhouse in fund management?

Kudos to the company for sharing strategic plans with clear targets; other family-linked groups should too 

Summarise
Leslie Yee

Leslie Yee

Published Mon, Sep 28, 2026 · 12:37 PM
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    • City Developments Limited faces an uphill task in its fund management ambitions.
    • City Developments Limited faces an uphill task in its fund management ambitions. PHOTO: BT FILE

    [SINGAPORE] The father-son tussle between Kwek Leng Beng and Sherman Kwek for board control at City Developments Limited (CDL) that came out in public in late February 2025 was the talk of the town.

    Executive chairman Kwek Leng Beng took his son, group CEO Sherman Kwek, and several other board directors to court over an “attempted coup” allegedly aimed at seizing control of CDL’s board.

    Peace ensued with the elder Kwek discontinuing the legal action after days of a highly public spat. The octogenarian continued to serve as executive chairman, and his son, group CEO.

    CommentaryCity Developments Ltd (CDL)City DevelopmentsFund managementKwek Leng BengSherman KwekPropertyProperty developersSingapore propertySingapore REITs

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