CDL’s Kwek clan looks to invest US$3.9b in Singapore, China, Japan to raise confidence
The company’s future has been a subject of intense discussion after a legal tussle between patriarch Kwek Leng Beng and eldest son Sherman
The firm also aims to sell S$6 billion of assets within the same period either via outright divestments or seeding suitable assets into managed vehicles, according to an exchange filing on Monday.
It wants to set up a dedicated fund management entity with an investment committee and leadership team to double assets under management to S$10 billion by 2029, via new real estate investment trusts, funds, partnerships and joint ventures.
The company’s outlook and succession plans have been a subject of intense discussion among investors after a legal tussle between chairman and patriarch Kwek Leng Beng and his eldest son, Chief Executive Officer Sherman Kwek, early last year. The duo later agreed to settle their differences.
