Posts Tagged ‘CDLs’
CDL’s Kwek Leng Beng aims to treble the group’s hotel numbers to 500
[SINGAPORE] If City Developments Ltd (CDL) executive chairman Kwek Leng Beng’s plans come to fruition, the group’s portfolio of hotels – including those under subsidiary Millennium Hotels & Resorts (MHR) – will treble in size, with some 500 properties dotted around the globe. “My personal vision and dream is for our group to expand our…
Read MoreHigh-90s support for all resolutions at CDL’s annual general meeting
[SINGAPORE] All resolutions tabled at City Developments Ltd’s (CDL’s) annual general meeting (AGM) on Wednesday (Apr 23) were passed, with support level in the high-90s range. All were ordinary resolutions requiring approval of more than 50 per cent of the total number of shares represented by votes cast at the meeting. Some 99.43 per cent…
Read MoreCDL’s AGM: Minority support for five IDs seeking re-election a litmus test of governance perceptions
[SINGAPORE] This week, minority shareholders of City Developments (CDL) will finally have the opportunity to endorse, or oppose, the controversial appointments of Jennifer Duong Young and Wong Su-Yen as independent directors (IDs). The two IDs were appointed on Feb 7, and are seeking re-election at the annual general meeting (AGM) scheduled for Apr 23. Also…
Read MoreSenior establishment figures mediated between CDL’s Kwek Leng Beng and son Sherman, sources say
[SINGAPORE] Trusted family friends and senior establishment figures in Singapore intervened and mediated a truce which put a halt to an acrimonious boardroom fight between billionaire Kwek Leng Beng and his son Sherman Kwek, according to sources who spoke to The Straits Times. The halt came after more than two weeks of tit-for-tat media statements…
Read MoreFirst meeting with CDL’s Kwek Leng Beng felt like a job interview, says Catherine Wu
DR CATHERINE WU, who came under the spotlight in the saga involving City Developments Limited (CDL), chatted with Taiwanese TV host Paul Lee on an episode of his talk show Da-win Dining aired in November 2024. In the TV interview, Dr Wu, who was born in Taiwan, revealed that she is the only daughter in…
Read More‘Stripping away any meaningful authority’ of CDL’s chairman is a ‘coup’: Kwek Leng Beng
CITY Developments Ltd executive chairman Kwek Leng Beng has alleged that his son’s denial of an attempted coup “misses the point”, in yet another twist to the father-son/board tussle rocking the company. “Protecting good governance, including the office of the executive chairman, and not me as an individual, is critical. Stripping away any meaningful authority…
Read MoreCorporate governance risks and opportunities in CDL’s family feud
COMMON wisdom holds that independent directors in family-controlled listed companies are an essential safeguard against family members on the board and management colluding at the expense of minority shareholders. The good news for minority shareholders of City Developments Ltd (CDL) is that they don’t have to worry about controlling-family members working in cahoots. The bad…
Read MoreCDL’s Kiwi unit makes NZ$2.25-a-share offer to delist M&C New Zealand – The Business Times
CITY Developments Ltd’s (CDL) wholly owned subsidiary intends to purchase all the fully paid ordinary shares in hotel company Millennium & Copthorne Hotels New Zealand (MCK) that it does not already own, at NZ$2.25 a share. The maximum aggregate cash consideration payable by CDL Hotels Holdings New Zealand (CDLHH NZ) is NZ$57.3 million (S$43.7 million).…
Read MoreCDL’s New Zealand unit to buy industrial zoned land for NZ$17.1 million
CITY Developments Limited (CDL)’s subsidiary, CDL Investments New Zealand (CDI), has entered into unconditional agreements to purchase 10.1 hectares of land in Christchurch, New Zealand, for NZ$17.1 million (S$14 million). On Friday (Jul 12), the company said the land, to be part of an industrial park precinct, could potentially yield about 15 to 17 industrial…
Read More