See: Another CDL director resigns in relation to Sincere Property investment and Citing disagreements over investment in China, Kwek Leng Peck quits CDL's board
According to the filing released via SGX, Tan’s resignation was in relation to the group’s investment in the Sincere Property Group.
See also: City Dev to acquire 51.01% joint controlling interest in China’s Sincere Property Group for $0.88 bil and Is CDL oversold following the family disagreements over Sincere and M&C?
Shares in CDL closed flat at $7.97 on Dec 31, 2020.