CDL Shares Resume Trading After Leadership Dispute Halt

City Developments Limited (CDL) lifted its trading halt on March 3, 2025, following a boardroom dispute between executive chairman Kwek Leng Beng and his son, group CEO Sherman Kwek, regarding the company's governance. Upon resuming trading, CDL's shares plummeted 7%, reaching their lowest point since 2009. The company reiterated that its operations remain unaffected and that Sherman Kwek will continue as CEO until a board resolution changes leadership. CDL has opted not to comment on the validity of allegations surrounding the dispute, as these are currently subject to ongoing court proceedings. The feud has raised concerns about the company's governance and future direction. CDL has promised to keep shareholders informed of any significant developments in accordance with SGX regulations.