City Developments (SGX:C09) announced Wednesday the resolution of legal proceedings initiated by certain directors against others, bringing an end to a period of internal strife, according to a filing with the Singapore Exchange.
Following the conclusion of the proceedings, Kwek Leng Beng remains the company's executive chairman, while Sherman Kwek also remains the group CEO. There are also no changes within the board.
The company said it will now continue to focus on strengthening the business and aims to maximize shareholder value.
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