CDL saga: Will peace hold? It’s time for a comprehensive strategic review
Father-son spat has wreaked damage, restoring investor confidence will be an uphill task
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[SINGAPORE] Shareholders of City Developments Ltd (CDL) probably heaved a huge sigh of relief over the announcement late on Wednesday (Mar 12) that Kwek Leng Beng had dropped his lawsuit against his son Sherman Kwek and six other members of the CDL board.
CDL’s share price rallied immediately following this announcement. However, are the group’s troubles over?
Shareholders might wonder if the father-son duo can work harmoniously after their high-profile spat. More crucially, CDL’s board of directors should urgently launch a strategic review to improve the group’s performance.
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