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It is really a very sad case .....a few years back ( 2 yr ?) he was rescue for a big failure in China property investment .
Honestly ( all this family business ) .....is he the right man for the job ? or due to his relationship .....I am always concern on " best man to run the company" ?
now , even the son win.....will people have confident on CDL
If father wins ......how long ( his age) ...can he reset the company .
CDL will open at what price ? OMG
SINGAPORE stock market is already hit with LACK of talent ......this episode again spell out the VERY lack of good HONEST people to run the many large companies
we have .......YET SINGAPOREAN accept many of this Pinocchio into our life ....and DO NOT accept great honest FT like DBS CEO .
Again , do we sincerely need to reset our mind set.
May the best honest man for the job. ( much so also depend on our own honesty and opinion)
DYODD
Honestly ( all this family business ) .....is he the right man for the job ? or due to his relationship .....I am always concern on " best man to run the company" ?
now , even the son win.....will people have confident on CDL
If father wins ......how long ( his age) ...can he reset the company .
CDL will open at what price ? OMG
SINGAPORE stock market is already hit with LACK of talent ......this episode again spell out the VERY lack of good HONEST people to run the many large companies
we have .......YET SINGAPOREAN accept many of this Pinocchio into our life ....and DO NOT accept great honest FT like DBS CEO .
Again , do we sincerely need to reset our mind set.
May the best honest man for the job. ( much so also depend on our own honesty and opinion)
DYODD
Brewing the wrong outcome!
| There is a saying, 富 不 过 三 代 |
Sgvale ( Date: 26-Feb-2025 12:28) Posted:
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Tragic. Embarrassing.
Observers ( Date: 26-Feb-2025 13:28) Posted:
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So exiting siah! Was reading this on the straights times on the bus just now, the plot almost like watching korean tv series.
I' m more interested now about his WILL. He' s not going younger. 84 years old.
Kwek Leng Beng originally defended his son on Sincere Property finally agrees with his brother Kwek Leng Pek. LOL!
The younger son likely to takeover? Only have two sons? Old people refuse to let the younger one chose their own path. Having said that this son so far has not performing.
Sgvale ( Date: 26-Feb-2025 12:19) Posted:
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No privatise offer. Is take over coup instead !
antifragile ( Date: 26-Feb-2025 10:32) Posted:
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The elder Kwek charges that under Sherman?s leadership:
The Sincere Property debacle led to a staggering $1.9 billion loss for CDL in FY2020.
Poor investment decisions in the UK property market resulted in significant financial losses, contributing to a 94% profit decline in 1HFY2023.
CDL?s share price has consistently underperformed peers since he assumed leadership in 2018, reflecting eroded investor confidence and shareholder concerns over strategic missteps.
Big Stick!
The Sincere Property debacle led to a staggering $1.9 billion loss for CDL in FY2020.
Poor investment decisions in the UK property market resulted in significant financial losses, contributing to a 94% profit decline in 1HFY2023.
CDL?s share price has consistently underperformed peers since he assumed leadership in 2018, reflecting eroded investor confidence and shareholder concerns over strategic missteps.
Big Stick!
?As a father, firing my son was certainly not an easy decision. I accept that business decisions are difficult and young people may make business mistakes in their careers and that is understandable, but circumventing corporate governance laws is a red line,? he said.
?As chairman, my responsibility is to CDL, its shareholders, and its future. I take my role as executive chairman seriously and have always prioritised the interests of all shareholders, not just those of my family. The stakes are simply too high to allow reckless power grabs to destabilise the company,? he said.
?As chairman, my responsibility is to CDL, its shareholders, and its future. I take my role as executive chairman seriously and have always prioritised the interests of all shareholders, not just those of my family. The stakes are simply too high to allow reckless power grabs to destabilise the company,? he said.
The older Kwek claimed that Sherman?s group had bypassed the nomination committee (NC) on two occasions to change the board composition, and hastily followed up by making significant changes to board committees and CDL?s governance.
This, he said, was contrary to established corporate governance principles, the Singapore Exchange Listing Rules and the Code of Corporate Governance.
A lax Sgx n regulationary body will lead to more such boardroom tussles.. more to come.. txs to sgx
This, he said, was contrary to established corporate governance principles, the Singapore Exchange Listing Rules and the Code of Corporate Governance.
A lax Sgx n regulationary body will lead to more such boardroom tussles.. more to come.. txs to sgx
If they really appoint an independent, non family member as CEO, then the outlook for CDL is very bright.
lol
why last time kwek leng beng din stage a coup for his late father mr kwek hong png
why last time kwek leng beng din stage a coup for his late father mr kwek hong png
treehouse ( Date: 26-Feb-2025 11:18) Posted:
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Takeover, father KO son
privatise lah. Let the father n son sort out their matters privately.
Executive chairman Kwek Leng Beng has filed court papers to deal with an &ldquo attempted coup&rdquo by his son Sherman Kwek.
https://www.straitstimes.com/business/battle-erupts-between-billionaire-kwek-leng-beng-and-son-sherman-for-control-of-cdl
https://www.straitstimes.com/business/battle-erupts-between-billionaire-kwek-leng-beng-and-son-sherman-for-control-of-cdl
In our market, anything that is ' brewing' is bad for the shareholders.
antifragile ( Date: 26-Feb-2025 10:32) Posted:
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Brewing.....
Also to support price due poor result anouncement
MrBear12 ( Date: 26-Feb-2025 09:24) Posted:
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No benefits to shareholders from the so-call asset recycling programme.