Mai Gong Mo Jio...Yahoo Finance say CDL has very good potential as it is very undervalue...dun miss the boat

[ChenShuang]

Who really controls City Developments?
https://www.theedgesingapore.com/ca...nts-us-risk-free-rates-tumble-sentiment-sours

The answer to the title may seem like stating the obvious, but on second glance, ownership is not that clear.

The main shareholder of City Developments is Hong Leong Investment Holdings (HLIH), as stated in its annual report. HLIH owns 48.55% of CDL, 45.5% of Hong Leong Finance and 75.1% of Hong Leong Asia .

HLIH in turn is owned by Davos Investment Holdings (33.6%), Kwek Holdings (29.1%), and individuals from the broader Quek and Kwek clans (37.3%). Davos, whose address is Guoco Tower, is likely controlled by Quek Leng Chan and his family, and the largest shareholder as at FY2023 is Kwek Leng Kee, a brother. Guoco Group, controlled by Quek Leng Chan, famously sold Dao Heng Bank to DBS Bank in 2002 for $10 billion.

tiagong madam ho supports Sherman

 

[WangChuk]

Boat has long gone. Sherman Kwek is a 败家子 逆子, Kwek Leng Beng also in his 80s going to GG soon.

Their share price has been plunging since the son took over and make worse by recent scandal and will never recover. Its a goner.
Dividend is only a paltry 1.56% can't even beat inflation, xia suay.

The only way to save it is to remove all Kwek family and their cronies connection and replace by real capable people or acquire by a powerful blue-chip company with good track records.
View attachment 215450

warrnant buffet say when everyone scared, we must strike and buy ..... huat ah!

 

[k1976]

Singapore's CDL plunges to lowest since 2009 after family feud​

City Developments Ltd.'s shares plunged as much as 7 per cent after a trading halt was lifted Monday, underscoring the destruction of the family feud playing out in public.​

Bloomberg
Mon, 3 March 2025 at 10:09 AM SGT2-min read

This photograph taken on March 1, 2025 shows the company logo of property giant City Development Limited (CDL) on the Republic Plaza building in Singapore. A high-stakes father-and-son feud has plunged Singapore property giant City Developments Ltd into turmoil, with a private boardroom dispute for one of the city-state's wealthiest families erupting into public view this week. (PHOTO: ROSLAN RAHMAN/AFP) (ROSLAN RAHMAN via Getty Images)More
By Low De Wei

(Bloomberg) — City Developments Ltd.'s shares plunged as much as 7 per cent after a trading halt was lifted Monday, underscoring the destruction of the family feud playing out in public.

Shares of the Singapore-based developer fell to the lowest since 2009 early Monday. Last week, CDL’s chairman and billionaire family patriarch Kwek Leng Beng sued his son and chief executive officer Sherman Kwek, along with other board directors, accusing them of leading a coup against him.

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The elder Kwek also said that he has sought to dismiss his son, but was blocked from doing so by the board.

The crisis engulfing the firm has shown little sign of abating going into the weekend, with dueling statements coming from both sides. The tussle has prompted downgrades from analysts including those at JPMorgan Chase & Co. and UOB-Kay Hian Holdings Ltd.

Family Feud Hits Singapore's City Developments | Shares have fallen to the lowest since 2009 (PHOTO: Bloomberg) (Bloomberg)
On Monday, the company said in a statement that Sherman, the younger scion of the family, will remain as CEO, while business operations remain “fully functional and unaffected.”

 

[k1976]

Tiagong John Tan favourite legal team is deployed

Bring up the Big Guns

 

[ChenShuang]

Upturn the downturn

 

[k1976]

The elder Kwek has alleged that his son and other members of the board breached corporate governance rules by hastily appointing two new directors outside of the typical nomination process.

Sherman and six other directors in turn denied any attempt at a coup, and accused his father of being influenced by Catherine Wu, an adviser to the board of the firm’s hotel subsidiary, whose conduct raises “a very serious issue of corporate governance.”

(Updates with share price movement, details throughout.)

 

[Narong Wongwan]

The 3rd generation of Kwek/Quek should have the Kon 字牌
This Leng Beng and Leng Joo Yaya papaya broke with tradition and changed it to Eik.
That’s why upset the fengshui and harmony. note how Leng Joo died young

 

[k1976]

The 3rd generation of Kwek/Quek should have the Kon 字牌
This Leng Beng and Leng Joo Yaya papaya broke with tradition and changed it to Eik.
That’s why upset the fengshui and harmony. note how Leng Joo died young

I know some Indon big VViPs very particular on fengshui and religion relic. Some even go to the extend to purchase private museum just to secure these ancient relics

Luck is a very powerful factor in many many business decisions and outcomes

 

[zeebjii]

The 3rd generation of Kwek/Quek should have the Kon 字牌
This Leng Beng and Leng Joo Yaya papaya broke with tradition and changed it to Eik.
That’s why upset the fengshui and harmony. note how Leng Joo died young

The one with Kon in his name who was in the nightlife did not do better, died young in a car crash.

I remember Coffeeahsoh mentioned here the sad state of Kwek Hong Png's grave. I guess it's just a collective disrespect of their ancestors, so i am not surprised this saga happened.

 

[Narong Wongwan]

The one with Kon in his name who was in the nightlife did not do better, died young in a car crash.

I remember Coffeeahsoh mentioned here the sad state of Kwek Hong Png's grave. I guess it's just a collective disrespect of their ancestors, so i am not surprised this saga happened.

All the 3rd generation has Kon in their names even the cousins from the Malaysian branch. As with the 2nd generation which the males had Leng and females had Lay.
Only the offsprings of Leng Beng and Leng Joo wanted to be special to show their special status as Hong Png’s direct descendants.

 

[Hightech88]

Chairman, GCEO and almost whole board members already embroiled in law suit best part is hooting each other, how to manage the company properly?

It could potentially drop to $4 soon, LOL.

 

[mojito]

Did they try giving their tips to the madam of tummy sick?