Citing disagreements over investment in China, Kwek Leng Peck quits CDL's board
CDL has committed a total of $1.9 billion to support Sincere Property Group, in which it holds a 51% stake
Follow us on Facebook and join our Telegram channel for the latest updates. Kwek Leng Peck, cousin of City Developments' executive chairman Kwek Leng Beng, has “regrettably” resigned from the board of the property giant.
Leng Peck, according to his letter of resignation cited by CDL, disagreed with CDL’s investment in Sincere Property Group, including the continuing of financial support totalling $1.9 billion to the China-based developer.
Get the latest news updates in your mailbox
Never miss out on important financial news and get daily updates today
