Kwek Leng Peck, cousin to City Developments’ (CDL) executive chairman Kwek Leng Beng and uncle to its group CEO Sherman Kwek, has resigned as a non-executive director of the property group from Oct 19. The company’s announcement raised speculations that Leng Peck resigned in protest. He is said to have disagreed with CDL’s investment in Sincere Property Group, including the continuing of financial support totalling $1.9 billion to the China-based developer. In addition, Leng Peck has “reservations” with CDL’s approach in the management of its hospitality unit, Millennium & Copthorne Hotels (M&C).

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