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Sherman Kwek
Father-son feud at billionaire Kwek family's CDL named among Singapore's pivotal corporate events this year
The boardroom dispute between Singapore’s second richest man Kwek Leng Beng and his son Sherman at their City Developments Limited has been listed among the significant corporate events and scandals that shook the city-state in 2025.
CDL of Singapore’s 2nd richest billionaire Kwek Leng Beng sells Sentosa Cove’s only mall for over $75M
Joint venture involving CDL of Singapore’s second-richest billionaire Kwek Leng Beng sells most units on launch weekend
CDL of Singapore’s second-richest billionaire Kwek Leng Beng puts Sentosa Cove’s only mall on the market for $86M
Property developer City Developments Limited, controlled by Singapore’s second-richest man Kwek Leng Beng, has put Quayside Isle, the only mall at the exclusive Sentosa Cove enclave, up for sale at S$111 million (US$86 million).
September 4, 2025 | 03:11 pm PT
Singapore billionaire Kwek family’s CDL posts net profit growth as board moves past father-son feud
Singapore-based City Developments reported higher net profit in the first half of 2025 amid efforts to show that its board had overcome an earlier feud between its billionaire chairman Kwek Leng Beng and his CEO son.
August 14, 2025 | 03:32 pm PT
Singapore billionaire Kwek family’s CDL sets new record price for executive condo site with $610 psf ppr bid
City Developments, led by Singapore’s billionaire Kwek family, has set a new record price for executive condominium land in the city-state with its recent bid of S$782 (US$610) per square foot per plot ratio for a Woodlands site.
August 7, 2025 | 03:27 pm PT
Longtime director at Singapore billionaire Kwek Leng Beng's CDL to resign after public boardroom feud
Philip Yeo is stepping down as director at Singapore-based property giant City Developments Limited following a public feud between the firm's billionaire chairman, Kwek Leng Beng, and his son, CEO Sherman Kwek.
July 15, 2025 | 09:59 pm PT
Hotel arm of Singapore billionaire Kwek family’s CDL announces cross-brand loyalty partnership with Germany’s Maritim Hotels
Millennium Hotels and Resorts, the hospitality unit under Singaporean billionaire Kwek Leng Beng’s City Development, has partnered with Germany’s Maritim Hotels to launch a cross-brand loyalty program.
July 3, 2025 | 03:09 pm PT
Singapore billionaire Kwek family’s CDL shares rise after sale of $2.1B South Beach complex to Malaysian firm to cut debt
City Developments’ share price rose 8.5% to close last week at S$5.25 (US$4.08) on the developer’s announcement that it is selling a landmark office complex in Singapore to reduce debt and restore investor confidence after a family feud.
June 9, 2025 | 12:28 am PT
Singapore billionaire Kwek family’s CDL to sell $2.1B office complex to reduce debt, restore investor confidence after public father-son feud
City Developments will sell its majority stake in a landmark Singapore office complex as it aims to cut debt and regain investor confidence after a public feud between billionaire chairman Kwek Leng Beng and his CEO son.
June 4, 2025 | 12:27 am PT
Inside Singapore's 10th richest billionaire Kwek Leng Beng's feud with CEO son: Have you been following the family drama?
A feud erupted earlier this year between Singaporean billionaire Kwek Leng Beng, executive chairman of City Developments Limited, and his son, Sherman Kwek, the company's CEO, prompting the father to file a lawsuit against him.
April 27, 2025 | 03:21 pm PT
Singapore's 10th richest billionaire Kwek Leng Beng's CDL shareholder meeting descends into ‘disaster’ amid boardroom feud
A months-long boardroom dispute at Singapore-based property giant City Developments Ltd. (CDL) of billionaire Kwek Leng Beng, which was believed to be resolved, overshadowed the company’s annual shareholders’ meeting.
April 23, 2025 | 09:07 pm PT
Singapore’s 4th richest billionaire Kwek Leng Beng receives $4.5M remuneration from CDL after boardroom feud with CEO son
Kwek Leng Beng, executive chairman of CDL, received reduced remuneration of S$5.97 million (US$4.55 million) for 2024 after a boardroom tussle with his son dragged down the firm’s share price.
April 14, 2025 | 12:53 am PT
Senior establishment figures reportedly mediated truce between Singapore's 4th richest billionaire Kwek Leng Beng and son
Senior establishment figures and trusted family friends reportedly helped mediate a halt to the public boardroom feud between Singaporean billionaire Kwek Leng Beng and his son at property giant City Developments Limited.
March 13, 2025 | 08:43 pm PT
Singapore's 4th richest billionaire Kwek Leng Beng drops lawsuit against CEO son to resolve CDL boardroom feud
Singaporean billionaire Kwek Leng Beng, executive chairman of City Developments Limited, has dropped a lawsuit against his son, the company's CEO, seeking to resolve the high-profile boardroom tussle at one of Singapore’s largest property developers.
March 12, 2025 | 07:52 pm PT
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