A tussle between father and son for control of property giant City Developments Limited (CDL) was revealed on Feb 26, with executive chairman Kwek Leng Beng publicly criticising his son Sherman, who is CDL’s group chief executive. 

The older Kwek said that he has filed court papers to address the “attempted coup” by Mr Sherman Kuek, 49, board members Philip Lee Jee Cheng and Wong Ai Ai as well as a group of directors acting with them to allegedly consolidate control of CDL’s board.

What are the legal implications of this ongoing tussle between father and son? What does this family turmoil mean for the future of CDL, and investor confidence? 

On The Big Story, Hongbin Jeong speaks with Professor Sumit Agarwal, Low Tuck Kwong Distinguished Professor of Finance at the Business School and a Professor of Economics and Real Estate at the National University of Singapore to find out more. 

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