CDL shares more than 4% after Kwek Leng Beng leaves the demand against

The last back events occurred two weeks after the family dispute was extended to public view on February 26, when Mr. Kwek Leng Beng accused his son of setting up a Board Room “Cit”.

The dispute focused on the appointments of two new non -executive independent directors, Mrs. Jennifer Duong Young and Mrs. Wong his -yen, that Senior Kwek said they were “hurriedly” without going through the CDL nomination committee.

In the next few days, explosive statements from both fields arose, raising concerns about the property giant Corporate Governance and business stability.

The saga also led to the Association of Securities Investors (Singapore), or sias, to pose A lot of questions to the company about their appointments of the Board and the role of a former advisor Dr. Catherine Wu, who was appointed by Mr. Sherman Kwek as the main reason for public consequences With his father.

Investor concerns are left: analysts

In the middle of Power Tussle, CDL asked for a negotiation stop on February 26. Your actions more than 6 percent fell to the new minimum of 16 years After the resumption of trade on March 3, but recovered slightly during the week.

Since then, brokerage and research houses have reduced their target prices for company actions. RHB, for example, degraded the action for the neutral purchase and reduced its objective price at S $ 4.75 of S $ 7.30.

RHB analysts said While the last reconcilantment movement offers a small respite, “It does not completely address the various corporate governance problems and the differences of the Board that were raised during the dispute“.

Investors will still want to seek a complete resolution of these concerns, greater clarity about the company’s plan to maximize the returns of the additional shareholders and safeguards to prevent them from arising a similar corporate governance and the problems related to the Board, analysts wrote in a note on Thursday morning.

As a result of these investors’ concerns, RHB expects the price of CDL shares “to live up to the short term.”