SINGAPORE -- A battle has broken out for control of City Developments Limited, a major Singaporean real estate developer, with Chairman Kwek Leng Beng on Wednesday moving to fire Sherman Kwek, his son and CDL chief executive, for alleged "serious lapses of corporate governance."
"We have filed court papers yesterday to set things right," the chairman said in a statement on Wednesday. "This is necessary to deal with this attempted coup at the board level and restore corporate integrity."
