CDL CEO Sherman Kwek ropes in legal heavyweight Davinder Singh
Angela Tan for The Straits Times
City Developments Limited (CDL) group chief executive Sherman Kwek has roped in senior counsel Davinder Singh to his team of lawyers as he faces his billionaire father Kwek Leng Beng in Singapore's biggest boardroom battle in recent years, the Straits Times understands.
The senior Mr Kwek, who is CDL executive chairman, is seeking to remove his son as CEO over an "attempted coup"
Mr Kwek, 84, has accused his son, 49, and six CDL board members of trying to take control of what was once Singapore's largest listed developers.
Mr Sherman Kwek, in turn, has denied that he tried to oust his father.
Mr Singh is widely considered Singapore's foremost litigator, having acted many times for the country's then prime ministers Lee Kuan Yew and Lee Hsien Loong in various civil proceedings.
He is head of his own self-named practice - Davinder Singh Chambers - and has taken on high-profile cases during his career, including defending the two prime ministers in court hearings.
He was also the lead defence lawyer in a recent corruption case involving former Transport Minister S Iswaran. He also represented Hin Leong founder Lim Oon Kuin - better known as OK Lim - in the case of the collapsed oil trader.
Mr Sherman Kwek and six board members - Ms Jennifer Duong Young, Ms Su-Yen Wong, Ms Ai Ai Wong, Mr Philip Lee, Ms Carolina Chan, Mr Daniel Marie Ghislain Desbaillets - will also be represented by one of Singapore's oldest law firms, Lee & Lee.
His father and three other board members are represented by LVM Law Chambers.
The Kwek clan share a combined net worth of US$11.5 billion (S$15.4 billion). This makes Mr Kwek Leng Beng the fourth richest man in Singapore, according to Forbes last year. Hong Leong Group, which belongs to the clan, holds around 49 per cent of CDL.
CDL was valued at $4.6 billion before trading was suspended on Feb 26. It is now valued at $4.5 billion, after the shares resumed trading on March 3.
Prior to starting his own firm in 2019, Mr Singh worked at Drew & Napier for 37 years, rising to the position of CEO as well as executive chairman.
He represented Singapore Press Holdings in a 2005 lawsuit brought against the publisher by the then CEO of the National Kidney Foundation, Mr TT Durai, for defamation in an article stating he had a gold-plated tap installed in his office.
Mr Singh also acted for Singapore's then Prime Minister Lee Hsien Loong in a defamation lawsuit brought against blogger Mr Roy Ngerng in 2014, when the latter claimed that Central Provident Fund savings had been misappropriated.
Mr Singh is also the chairman of the Singapore International Arbitration Centre and a vice-chairman of the Paris-based ICC Commission on Corporate Responsibility and Anti-corruption.
CDL shares fell as much as 6.5 per cent to $4.79, their lowest since 2009, when trading resumed on March 3, after a three-day halt. The stock pared some losses and was down 2.7 per cent at $4.98 at the midday trading break.
Many analysts remained cautious in their recommendation on concerns that the board discord may affect CDL's strategic direction.
Brokers noted that there is a queue of punters waiting to "scoop up" the shares if prices head further south towards $4.
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