Third CDL director resigns over Sincere investment

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A THIRD director of City Developments Limited (CDL) has stepped down in recent months in relation to its investment in China-based real estate developer Sincere Property Group. Read more at The Business Times.

CDL said then that Mr Koh believed it was"most appropriate for him to now step down as a director" having shared his observations, concerns and suggestions on the group's investment in Sincere.

At the time, Mr Kwek cited disagreements with the board over CDL's investment in Sincere, as well as its continuing provision of financial support to the Chinese property group. He also had reservations with the group's approach in managing its London-based wholly-owned unit Millennium & Copthorne Hotels, which he concurrently resigned from as a director.

"The board looks forward to Mr Lee's contribution of skills and diversity to the current core competencies of the board," CDL said.

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