Succession-like feud engulfs Singapore's richest family

Published On Feb 27, 2025, 1:10 AM

The Kwek family, known for their wealth in Singapore through City Developments Limited (CDL), is embroiled in a public feud that resembles a dramatic succession battle. Kwek Leng Beng, chairman of CDL, has accused his son Sherman, the CEO, of attempting a boardroom coup. The situation has led to halted share trading of CDL, Singapore's biggest listed property developer, as the family dispute seeks resolution in court. Discussions include potentially replacing Sherman with his cousin as interim CEO, depending on the court's outcomes.