SINGAPORE: Following the boardroom leadership tussle that broke last week, the trading halt on the shares of City Developments Limited ( CDL ) will be lifted on Monday ( Mar 3 ). The company claims that it is “business as usual” and that it is “business as usual.”
The business requested a investing end on February 26.
According to a media release on Monday, the Board’s decision to stop buying was based on the debate over the structure and composition of the Board and the Board committees.
According to it, different allegations have been made about this subject in light of recent news reports, among others.
Because many of these allegations are the subject of ongoing court proceedings, “CDL did not comment on the accuracy of these allegations,” it continued.
According to the statement, CDL’s business activities are still fully operational and unaffected, adding that it is “business as usual.”
Mr. Sherman Kwek will serve as the Group’s Chief Executive Officer until a board decision is made to alter business leadership, it said.
If there are “any significant improvements in relation to the above in , in accordance with the requirements of the SGX-ST Listing Manual,” CDL added that it will release its shareholders.