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Fortune

Lionel Lim

Father-son feud and an alleged ‘attempted coup’ rock one of Singapore’s largest property developers

CDL Singapore Board Fortune

(Credit: Ore Huiying—Bloomberg via Getty Images)

Update, Feb. 27: 2025: After a court hearing on Wednesday, City Developments Limited (CDL) chairman Kwek Leng Beng said that the company's "serious lapses" of corporate governance were halted according to CNA.

The two independent directors allegedly nominated outside of standard procedures—the source of the dispute between Kwek and his son, CDL CEO Sherman Kwek—had "undertaken not to exercise any powers as directors until further notice of the court". Sherman Kwek and other CDL board directors also agreed not to take further action.

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