Corporate governance concerns at City Developments Limited linked to Kwek Leng Beng’s adviser, Dr Catherine Wu.

The ongoing internal dispute within City Developments Limited (CDL) has been attributed to Dr Catherine Wu, adviser to executive chairman Kwek Leng Beng, according to the company’s group chief executive, Sherman Kwek.

On 27 February, Kwek, son of the billionaire chairman, dismissed claims that there was an attempt to remove his father from his position. Instead, he highlighted corporate governance concerns surrounding Dr Wu’s role, stating that her actions had led to significant tensions within the company.

“The assertion that there is an ‘attempted coup’ by the majority of directors to consolidate control of CDL’s board is inaccurate,” Kwek stated. “This diverts attention from the core issue, which is the serious governance matter arising from Dr Catherine Wu’s conduct.”

Although officially an adviser to the board of Millennium & Copthorne Hotels Limited (M&C), a key subsidiary of CDL, Wu has allegedly overstepped her position, exerting considerable influence over decision-making, according to Kwek.

“These concerns have weighed on us as directors. Given her longstanding ties with the chairman, efforts were made to address the matter carefully, but they have been unsuccessful,” he explained.

To address these concerns, Kwek’s team has proposed resolutions to terminate Dr Wu’s advisory role with M&C’s board and to reaffirm that she holds no authority to influence or guide CDL and M&C’s leadership, staff, or operations.

“These measures are essential to safeguarding shareholder interests and ensuring corporate governance and accountability are upheld,” he added.

Dr Wu previously served as a director at M&C before her dismissal in January 2024. She had also acted as a personal assistant to Kwek Leng Beng, though she was not officially employed by the company, instead receiving direct payment from him.

Documents from a London employment tribunal in 2018 indicated that Wu played a role as the chairman’s “eyes and ears,” assisting in global property operations.

In August 2024, she rejoined M&C’s board as an adviser. Recently, she has publicly claimed to be the driving force behind Kwek Leng Beng’s business empire.