Real Estate
Billionaire Kweks’ CDL Says Board Changes Deviated From Norms
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The board of City Developments Ltd., the property company controlled by Singapore’s wealthiest family, said it deviated from its usual processes earlier this year in appointing two new directors.
But it defended the actions as “necessary and appropriate,” due to what it said were “governance concerns in relation to the role and involvement” of an adviser at its hotel subsidiary.