The Business Times
business-time-50
COMMENTARY
·
SUBSCRIBERS

Kwek Leng Beng’s cousins, including Quek Leng Chan and Kwek Leng Kee, could swing the tide in battle over control of CDL

Controlling Hong Leong Investment Holdings vital for taking charge of CDL’s board

Summarise
google-preferred-sourceAdd BT as a preferred source
Leslie Yee

Leslie Yee

Published Mon, Mar 3, 2025 · 05:02 PM
    • Second=generation Kwek family members may hold the keys to the fate of Kwek Leng Beng (pictured) in his tussle with son Sherman Kwek at CDL.
    • Second=generation Kwek family members may hold the keys to the fate of Kwek Leng Beng (pictured) in his tussle with son Sherman Kwek at CDL. PHOTO: BT FILE

    BATTLE lines are being drawn in the father-son tussle for control at mainboard-listed real estate player City Developments Ltd (CDL), involving Singapore’s richest clan.

    On one side stands 84-year-old executive chairman Kwek Leng Beng, whose name is synonymous with CDL. On the other side stands his son, Sherman Kwek, who is CDL’s group chief executive officer.

    With father and son in conflict and the majority of the board backing Sherman Kwek, might Kwek Leng Beng’s position at CDL’s helm be in jeopardy?

    City Developments Ltd (CDL)City DevelopmentsKwek Leng BengSherman Kwekhong leong holdings

    TRENDING NOW

    KSL's Khoo Lee Feng says it is "not so much what you study, but how you learn".

    Johor property old hand KSL readies family handover amid market boom

    Indonesia's Finance Minister Purbaya Yudhi Sadewa says figures in the reported export data are roughly 50% lower than the actual numbers.

    Wilmar, Musim Mas among palm-oil firms in Indonesia under probe for suspected export under-invoicing

    CEO Kerry Mok says Sats has “a lot of growth opportunities”, including investments in AI and new geographies, as well as refreshing its assets.

    Sats may reward shareholders with special dividend if there’s spare cash

    LKT commenced proceedings in the Singapore High Court against Edmund Cheah in May 2025, alleging breaches of fiduciary duties and duties of fidelity.

    Property group Lee Kim Tah reaches settlement with ex-director in ongoing misconduct probe

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More