Singapore’s Top Developer Woes Grow Over China Investment
Bloomberg 12/30/2020 Faris Mokhtar © Bloomberg Commercial buildings in the central business district stand near Marina Bay in this aerial photograph taken above Singapore, on Thursday, July 2, 2015.
(Bloomberg) The internal woes of Singapore’s second-largest listed developer, City Developments Ltd., continued to escalate after a second board member resigned over disagreements on an investment in China.
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Koh Thiam Hock stepped down from his position as an independent non-executive director at the firm, according to a Singapore Exchange filing on Tuesday. While the company did not specify the reasons for his departure, it said that Koh quit from his post after sharing his “observations, concerns and suggestions” on the firm’s investment in Chinese developer Sincere Property Group.
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CDL director steps down over concerns with Sincere investment
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The Straits Times
He is second to exit owing to reservations over China s Sincere Property Group
Mr Koh Thiam Hock stepped down as an independent non-executive director on Monday.
Mr Kwek Leng Peck quit as non-executive and non-independent director in October.
PublishedDec 31, 2020, 5:00 am SGT
https://str.sg/JRrc
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Infighting over Chinese investment rocks Singapore s top developer
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