In Strictly Business: The Kwek Leng Beng Story, the Singaporean billionaire opens up on his six decades in business and the lessons he learnt through crises and challenges.
SINGAPORE - Property giant City Developments Limited (CDL) has marked its 60th anniversary by unveiling plans to expand its portfolio of homes, offices and hotels to include new asset classes and to tackle more overseas markets. Read more at straitstimes.com.
Singapore Billionaire Kwek Leng Beng s City Developments To Limit Exposure In China Unit Amid Bankruptcy Claim forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
In its response, CDL described Sincere as a joint venture and said the legal structure of the entity doesn’t give the Singapore firm majority control of board decisions. It said it was “deeply concerned” that Sincere issued the statement and that it came without any prior consultation.
Sincere paid interest on Thursday for its bond due Tuesday, though investors are still waiting for a principal payment of 444.5 million yuan ($68 million), according to two bondholders who aren’t authorized to speak publicly and asked not to be identified. China Lianhe Credit Rating downgraded Sincere to B from BB following the missed payment.