Later, during CDL’s annual general meeting (AGM) on April 29, Sherman revealed the firm’s name: Teneo, which was chosen because of its long-standing working relationship with the group. According to him, CDL did not invite any other firms to submit their bids as the company did not want to “waste time interviewing endlessly”.
City Developments’ (CDL) strategic review, which is slated to be unveiled by June, has got a lot riding on it.
Group CEO Sherman Kwek announced the review during the group’s FY2025 results briefing on Feb 27. Sherman said CDL had engaged a global advisory firm in September last year to spearhead the review and the firm was “still in the process” of its assessment.
