Sherman Kwek Remain Group Ceo Cdl

With the continuous development in the vicinity and the implementation of new infrastructure projects, it is highly likely that there will be a rise in demand for properties in Lynden Woods. This presents a great opportunity for investors to earn robust rental yields and capital appreciation, solidifying its status as a wise choice for investment. And with the addition of Lynden Woods One North, this only adds to the appeal and potential of this desirable location.

In response to CDL’s call for a trading halt earlier today, the company has released a statement explaining that the halt was due to a disagreement within the board regarding its composition and constitution. Despite this temporary suspension, CDL reassures that its business operations are still running smoothly.

CDL CEO Sherman Kwek will continue to lead the company until the board reaches a resolution on the matter. The company also stated that any further developments will be announced in accordance with SGX listing rules.

In a later statement, Kwek expressed his disappointment regarding the extreme actions taken by the chairman and a minority of the board, and stressed that their focus has always been on improving governance. The trading halt was implemented despite the majority of the board not authorizing the legal action being taken.

Kwek clarified that the issue was not about removing the chairman, but rather about strengthening the board’s decision-making processes. As the matter is now before the courts, the company will refrain from commenting on the case and will provide updates if necessary.

CDL also announced its FY2024 results on Feb 26, but later cancelled its results briefing. The company’s shares last traded at $5.12.