Useless son of Singapore

[Chase]

Sherman Kwek
https://www.channelnewsasia.com/singapore/cdl-kwek-leng-beng-sherman-sack-coup-4960676

In a statement issued on Wednesday (Feb 26), the senior Kwek accused his son and a group of directors, including Mr Philip Lee and Ms Wong Ai Ai, of bypassing CDL's nomination committee to push through board changes without proper review." He said court papers were filed on Tuesday to address what he described as an attempted "coup" and to restore corporate integrity.

The elder Kwek pointed to past business decisions under Mr Sherman Kwek's leadership that have "put CDL in a precarious position", including a S$1.9 billion loss from CDL's investment in Chinese developer Sincere Property in 2020 and poor returns from UK property ventures.

CDL's share price has also underperformed since Sherman Kwek took over in 2018, he said.

As a father, firing my son was certainly not an easy decision," said Mr Kwek Leng Beng.

"I accept that business decisions are difficult and young people may make business mistakes in their careers and that is understandable, but circumventing corporate governance laws is a red line."

Mr Kwek Leng Beng vowed to take all legal steps necessary to protect the company’s governance standards and its shareholders' interests.

 

[batman1]

If he is not the son of Kwek leng beng,most likely he is just a Grab driver.555

 

[face the facts]

why the fuck these super rich still fight over money........morons

 

[Narong Wongwan]

If he is not the son of Kwek leng beng,most likely he is just a Grab driver.555

It’s amazing with all the money and resources to nurture and yet end up with such a lousy end product.
Nature trumps nurture

 

[k1976]

If he is not the son of Kwek leng beng,most likely he is just a Grab driver.555

TBH, There are many ex-big shot sits driving Grab now

 

[k1976]

It’s amazing with all the money and resources to nurture and yet end up with such a lousy end product.
Nature trumps nurture

U need luck , right connection and correct timing

 

[birdie69]

If he is not the son of Kwek leng beng,most likely he is just a Grab driver.555

Someone are just lucky to be born in a rich and powerful family, yet still wants to be dishonourable!

 

[Narong Wongwan]

U need luck , right connection and correct timing

Business acumen aside
This useless son is morally bankrupt like pinky
I would love to see him win the lawsuit against his father then see how he runs the company to the ground.

 

[Chase]

Bloomberg: Billionaire Kweks’ CDL says board changes deviated from norms
8th April 2025
https://www.bloomberg.com/news/arti...ks-cdl-says-board-changes-deviated-from-norms

The board of City Developments Ltd, the property company controlled by Singapore’s wealthiest family, said it deviated from its usual processes earlier this year in appointing two new directors. The appointment of two new directors in February — who were voted in by a majority of its then nine-member board — took place “without the usual process of prior review and recommendation” by the board’s then nominating committee.

Despite attempts to wrap up the feud publicly, the developer could face scrutiny from shareholders at an annual meeting scheduled for April 23.
The local stock exchange’s regulatory arm has questioned CDL about corporate governance issues and disclosures related to the tussle, Bloomberg News reported this month.