Shares of City Development (SGX:C09) fell over 3% on Monday after the company resumed its trading, stating that its operations remain "fully functional and unaffected."
"It is business as usual" for the company, and Sherman Kwek will remain the group CEO until there is a resolution to change the company's leadership, according to a filing with the Singapore Exchange on Monday.
In a previous filing on Feb. 24, the company had called for a trading halt amid disagreement within the board over its composition and constitution.
CDL executive chairman Kwek Leng Beng had filed court papers accusing his son Sherman Kwek of "attempted coup" of the company.
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