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Jenny Lim Yin Nee is one of five directors to leave CDL’s nine-person board since October
A fourth director has resigned from the board of City Developments Ltd (CDL) after the troubled Singapore development titan reported a loss attributable to shareholders of S$1.9 billion ($1.4 billion) in 2020.
Jenny Lim Yin Nee ended her role as CDL’s lead independent director as of 3 May, with the non-executive board member following three other director resignations and one retirement in the wake of the company’s cash-devouring investment in mainland developer Sincere Property Group last year.
In a statement, CDL said: “Having fulfilled the responsibilities in her various roles during her tenure as an Independent Non-Executive Director, Ms Lim is of the view that it is appropriate for her to step down in the light of contributions from the Board’s new Independent Directors.”
The Straits Times
CDL said the write-down distorted the group s second-half and full-year results for fiscal 2020.PHOTO: CDL
Vivienne Tay
PublishedFeb 26, 2021, 9:38 am SGT
https://str.sg/JVTp
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