CDL Will Give Shareholders A Proper Account, Says Group CEO Sherman Kwek
CDL is slated to hold its AGM on April 23
With the legal fight within the board of City Developments put behind, the company will give shareholders a proper account, according to group CEO Sherman Kwek.
"This is our responsibility," he told Chinese daily Lianhe Zaobao on March 16.
Sherman was attending the council installation ceremony of the Singapore Chinese Chamber of Commerce and Industry. Kwek, who has long held various positions in Singapore's largest Chinese business chamber, is one of the council members.
Disputes between Sherman and his father, CDL's executive chairman Kwek Leng Beng split the company's board and before the matter was heard in open court, both sides on March 12 announced they had terminated their legal actions.
The company, having reported its full-year results on Feb 26, is slated to hold its annual general meeting on April 23.
"I am glad the lawsuit has been terminated," said Sherman, when asked by Zaobao if his relationship with his father has improved.
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