News analysis

Scion of Singapore's richest clan strives to salvage China deal

City Developments Ltd CEO Sherman Kwek spearheaded a deal with Chinese developer Sincere Property Group in 2019. PHOTO: CDL
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But Sincere remains central to Mr Kwek's success and is to this date CDL's largest single investment in China.

While the Singapore company did not disclose its strategy to resolve the issues at the joint venture, a media representative said the firm is focused on preserving and enhancing shareholder value, adding that "the team has been working diligently on issues relating to Sincere and the challenges it faces".

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