Singapore property tycoon Sherman Kwek seeks to salvage CDL investment in China

Pressure is mounting on an heir to Singapore’s biggest family fortune as he seeks to salvage the troubled property investment at the centre of an ambitious expansion into China.In the past month, Sherman Kwek, the 45-year-old chief executive officer of City Developments Ltd. (CDL), has had to contend with two more board member resignations, taking the total to three since October. His firm set up a special team to decide on the sale of assets at its joint venture with Sincere Property Group,…

This post was originally published on South China Morning Post.