CDL strategic review ‘timely’ after last year’s disputes, Sherman Kwek tells shareholders
The exercise will be ‘a look back at everything we’ve done’, says group CEO; details to be unveiled by end-June
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[SINGAPORE] An ongoing strategic review being done by City Developments Ltd (CDL) was “timely” after the company went through “some difficulties” and internal disputes last year, group chief executive officer Sherman Kwek told a packed shareholders’ meeting on Wednesday (Apr 29).
The property giant is looking to “revamp” its strategy and better articulate its value to investors, and has appointed global advisory firm Teneo for the task.
At CDL’s annual general meeting (AGM) on Wednesday, Kwek said that the review will be discussed at a board strategy meeting in May, with details expected to be unveiled by end-June.
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