Singapore Billionaire’s Adviser Resigns Amid Family Feud
Sherman Kwek, left, and Kwek Leng Beng in 2019.
Photographer: Ore Huiying/BloombergThis article is for subscribers only.
A company adviser embroiled in an escalating feud involving Singapore’s richest family has stepped down, according to the billionaire chairman of the clan’s real estate firm.
Catherine Wu has resigned from her unpaid role at the hotel unit of City Developments Ltd., according to a statement Tuesday from Chairman Kwek Leng Beng. Shares of the company rose as much as 2.8% in early trading Wednesday, recouping most of its losses since the dispute became public.