The new directors refer to Jennifer Duong Young and Wong Su Yen, who were both appointed as independent non-executive directors via directors’ resolutions in writing.
The “serious lapses” of corporate governance at City Developments (CDL) have been halted, according to a second statement issued by CDL’s executive chairman Kwek Leng Beng.
Following a court hearing on Feb 26, the two new directors, who were “irregularly and hastily appointed” on Feb 7, have undertaken not to exercise any powers as directors until further notice of the court.
