CDL board fight cools with undertaking from two new IDs

The “serious lapses” of corporate governance at City Developments (CDL) have been halted, according to a second statement issued by CDL’s executive chairman Kwek Leng Beng. Following a court hearing on Feb 26, the two new directors, who were “irregularly and hastily appointed” on Feb 7, have undertaken not to exercise any powers as directors […]