CDL executive chairman Kwek Leng Beng: With this, CDL’s board committees and the management of the relevant subsidiaries are 'now safe' from 'further attempts to destabilise, dismantle and reconstitute them'.
SINGAPORE (Feb 27): 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 until further notice of the court.
The new directors refer to Jennifer Duong Young and Wong Su Yen, who were both appointed as independent non-executive directors via directors’ resolutions in writing...(click here for the full story on theedgesingapore.com).
- Short selling suspended for 18 counters amid market sell-off
- Are investors cutting losses on Genting Malaysia?
- MIDF: Foreign investors pulled RM31.68b from Asian markets last week, South Korea saw heaviest selling
- Umno working secretary: We will take US$10 mil from Colombian drug lord Pablo Escobar if it is given
- China has already trade-war-proofed its economy
- NEWS: Analysts call to stay defensive amid market rout
- Wall St opens sharply lower, S&P 500 nears bear market territory
- Now's not the time to buy the dip, analysts warn as Bursa sees RM93b rout on tariff fears
- Israeli soldiers describe clearance of 'kill zone' on Gaza's edge
- UK effort to keep Apple encryption fight secret blocked in court