Singapore Kwek Clan's CDL Annual Meeting Descends Into Chaos
A longtime board member of City Developments Ltd., the property giant controlled by Singapore's richest family, lashed out at other directors on Wednesday over a recent feud that rocked the developer and the billionaire Kwek clan.
The Singapore-listed company's annual general meeting was meant to show a united front between Kwek Leng Beng, its executive chairman, and his son Sherman Kwek, the company's chief executive officer. Instead, fireworks flew after several board members began bickering about the appointments of two new directors that a majority of the board pushed through in February, which had caused a rift within the Kwek family.
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