The dispute has culminated in a High Court hearing on Feb 26 to hear Kwek Leng Beng’s lawsuit against his son and several board directors. Read more at straitstimes.com.
Property Tycoon Ong to Plead Guilty Over Singapore Ex-Minister Scandal
Property tycoon Ong Beng Seng is set to plead guilty on two charges related to a case involving jailed former transport minister S. Iswaran.
Father-son feud and an alleged ‘attempted coup’ rock one of Singapore’s largest property developers
Kwek Leng Beng, the chairman of City Developments Limited, is accusing his son Sherman Kwek, who is the CEO, of “serious lapses of corporate governance”.
Thai fortunes dominate Southeast Asia’s 5 richest families list
Three of the five richest families in Southeast Asia are from Thailand, with the other two from Indonesia and Singapore/Malaysia, according to a recent list compiled by Bloomberg.
Singapore Billionaire Kwek Leng Beng Sues Son In Battle For Control Of Property Giant City Developments
Real estate billionaire Kwek Leng Beng has disclosed that he has filed a lawsuit in Singapore against his son, Sherman, for control of the family’s crown jewel, property giant City Developments Ltd.
Battle for control: In Singapore, CDL chairman Kwek Leng Beng moves to oust CEO son over alleged boardroom coup
A power struggle has erupted at property giant City Developments Limited (CDL), with executive chairman Kwek Leng Beng seeking to remove his son, group chief executive Sherman Kwek, over an alleged …
Saudi Arabia to buy control of Olam’s agribusiness for $1.8 billion; shares jump
Saudi Arabia’s agricultural and livestock investment firm SALIC has agreed to buy a 44.58% stake in Singapore-based Olam Group’s agricultural products business Olam for 1.78 billion, the companies …
Saudi Arabia snaps up Olam’s agribusiness division in a deal valued at $4 billion, more than the Singaporean firm’s entire market cap
First, Salic will acquire 44.57% of Olam Agri for $1.78 billion, bringing its total ownership stake to 80.01%. The Saudi fund will then have three years to exercise a call option on the remaining …
Saudi Arabia’s Salic to buy Olam Agri business from Singapore parent
Saudi Agricultural and Livestock Investment Company (Salic) has agreed to acquire a 44.58% stake in Olam Agri Holdings, the agricultural products unit of Singapore’s Olam Group, for $1.78bn. Post the …
Indonesia launches new multibillion dollar Danantara sovereign wealth fund
Indonesia’s Prabowo officially establishes Danantara, which is modelled on Singapore’s investment arm Temasek.