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The Straits Times
CDL said that Lim Yin Nee Jenny resigned as an independent non-executive director on Monday.PHOTO: CDL
Lee Meixian
https://str.sg/JtSk
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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.”