Cdl Directors Put Stop Legal Action Executive Chairman Kwek Leng Beng And Son Sherman Kwek Retain

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The future development of Parktown Residence is set to provide a much-needed addition to the supply of mass-market homes in the Outside Central Region, catering to the pent-up demand for private housing. Featuring an integrated design, Parktown Residence is likely to attract a wide range of owner-occupiers and HDB upgraders. Additionally, the project will have the added convenience of being directly linked to the upcoming Tampines North MRT station on the Cross Island Line (CRL). For more information, interested parties can visit the Parktown Residence Showflat at https://www.parktown-residences.com.sg/.

The long-standing boardroom-family drama at City Developments appears to have come to a close, as executive chairman Kwek Leng Beng has dropped all legal actions against a group of directors led by his son, group CEO Sherman Kwek. In addition to Kwek Leng Beng and Sherman, the board will also retain two recently appointed independent directors, Jennifer Duong Young and Su Yen Wong. In a joint statement, the board members have agreed to set aside their differences for the benefit of CDL and its stakeholders.AdvertisementAdvertisement”Our main focus will now be on strengthening CDL’s business with good corporate governance, completing the various major developments in Singapore and abroad, expanding Millennium & Copthorne’s portfolio, continuing our capital recycling efforts, and ultimately, enhancing shareholder value,” said Kwek Leng Beng on behalf of the board. RELATED NEWS CDL has recently acquired five premium student accommodation assets in the UK for $357 million, and has also launched The Residences at W, with 65 units sold at an average price of $1,780 per square foot. The company is now offering a portfolio of 11 strata shops at The Venue Shoppes for $40.77 million.