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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 They can read the article in full after signing up for a free account. Share link: Or share via: Sign up or log in to read this article in full Sign up All done! This article is now fully available for you Read now Get unlimited access to all stories at $0.99/month for the first 3 months. Get unlimited access to all stories at $0.99/month for the first 3 months. including the ST News Tablet worth $398. ....
Mingtiandi Username 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.” ....
Singapore Property Dynasty’s China Deal Is a Cautionary Tale Bloomberg 3/15/2021 Bloomberg News (Bloomberg) When Singapore’s richest property family invested in a Chinese real estate group, the deal was touted as “game-changing” for its expansion in Asia’s largest economy. Almost a year later, it has instead become a cautionary tale for firms looking to invest in Chinese developers. In a case of a dream turning into a burden, City Developments Ltd. last month revealed a S$1.78 billion ($1.3 billion) writedown on Chongqing-based Sincere Property Group that led the Singapore firm to suffer a record annual loss. The impairment constituted almost all of CDL’s S$1.9 billion investment in Sincere, which more than doubled from its initial outlay as its partner’s finances deteriorated. Now CDL has had enough, saying it will no longer inject funds until the Chinese company returns to health. Cash-strapped Sincere has dragged their ....
Singapore property dynasty's China deal becomes cautionary tale yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
The Straits Times CDL, Sincere Property disagree over the Chinese developer s missed debt payment Chengdu Hilton Hotel and Starlight 68 Mall (above) are among the properties Sincere Property Group owns and operates.PHOTO: CDL New: Gift this subscriber-only story to your friends and family https://str.sg/JjbG They can read the article in full after signing up for a free account. Share link: Or share via: Sign up or log in to read this article in full Sign up All done! This article is now fully available for you Read now Get unlimited access to all stories at $0.99/month for the first 3 months. ....