A 2017 photo of City Developments Limited executive chairman Kwek Leng Beng (left) and his son Sherman Kwek, who was then deputy CEO. - Bloomberg
SINGAPORE: Trusted family friends and senior establishment figures in Singapore intervened and mediated a truce which put a halt to an acrimonious boardroom fight between billionaire Kwek Leng Beng and his son Sherman Kwek, according to sources who spoke to The Straits Times.
The halt came after more than two weeks of tit-for-tat media statements by both men, during which the share price of their real estate company City Developments Limited (CDL) reached a 16-year low.
