Who is Catherine Wu, the woman said to have a ‘long relationship’ with Kwek Leng Beng?
CDL group chief executive Sherman Kwek says the “primary reason” for the ongoing dispute at the property behemoth relates to “a very serious issue of corporate governance” involving Dr Wu
CITY Developments Ltd (CDL) group chief executive Sherman Kwek highlighted a Dr Catherine Wu on Thursday (Feb 27) in his latest response in the “attempted coup” saga that broke in the public arena the day before.
In a detailed statement, he said the “primary reason” for the ongoing dispute at the property behemoth relates to “a very serious issue of corporate governance” involving Dr Wu, adviser to CDL executive chairman and his father Kwek Leng Beng.
He cited Dr Wu as holding an official position as adviser to the board of Millennium & Copthorne Hotels (M&C), a wholly owned and principal subsidiary of CDL.
“(She) has been interfering in matters going well beyond her scope, and she wields and exercises enormous influence. These matters have troubled us as directors,” he said.
Sherman Kwek added that Dr Wu has a “long relationship” with the senior Kwek, and that “efforts that were made to manage the situation were done sensitively, but to no avail”.
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