Citing disagreement over investment in China, Kwek Leng Peck quits CDL's board

-A +A

SINGAPORE (Oct 21): Kwek Leng Peck, a cousin of City Developments Ltd (CDL) 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 S$1.9 billion (RM5.81 billion) to the China-based developer.

In addition, Leng Peck has “reservations” about CDL’s approach in the management of its hospitality unit, Millennium & Copthorne Hotels ... (click on link for full story on theedgesingapore.com).