The Business Times
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COMMENTARY

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

Summarise
Leslie Yee

Leslie Yee

Published Thu, Mar 13, 2025 · 04:12 PM
    • Will Kwek Leng Beng (above) be able to work harmoniously with Sherman Kwek on the uphill battle to regain investor confidence at CDL? 
    • Will Kwek Leng Beng (above) be able to work harmoniously with Sherman Kwek on the uphill battle to regain investor confidence at CDL?  PHOTO: BT FILE

    [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.

    City Developments Ltd (CDL)City DevelopmentsKwek Leng BengSherman KwekCorporate governanceHotels

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