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CDL's Kwek Leng Beng thanks outgoing directors, says new directors have 'diversified skill sets and perspectives' in letter

Felicia Tan
Felicia Tan1/7/2021 6:38 PM GMT+08  • 3 min read
CDL's Kwek Leng Beng thanks outgoing directors, says new directors have 'diversified skill sets and perspectives' in letter
Shares in CDL closed 8 cents lower or 1.0% down at $7.55 on Jan 7.
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In a letter to the media released via SGX on Jan 7, City Developments Limited’s (CDL) executive chairman Kwek Leng Beng referred to the “recent media reports” with regard to the changes to the board of directors at CDL.

From October 2020 to January 2021, three directors, including Kwek Leng Beng’s cousin, Kwek Leng Peck, have resigned from the board in relation to CDL’s investment in Sincere Property.

Drawing on his own experiences having sat on various boards of the Hong Leong Group for over 40 years, and as executive chairman of CDL since 1995, Kwek says he believes that he has “sufficient experience to assess what makes a successful board”.

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