The succession -shaped dispute involved to the richest family in Singapore

A dispute similar to the succession has wrapped one of Singapore’s richest families such as Kwek Leng Beng, Executive President of Property Firm City Developments Limited (CDL), accused his son Sherman, who is the firm executive director, of planning a control outlet of the boardroom.

The old Kwek, who is 84 years old this year, together with CDL, presented the judicial documents on Wednesday accusing his son, two other members of the Board and a group of directors to try to take control of the company.

“This is necessary to deal with this attempted at the board level and restore corporate integrity,” he said.

CDL, which is the largest real estate developer in Singapore, has stopped the negotiation of its actions in the stock exchange of the financial center.

“We intend to change the executive director at the appropriate time,” Kwek Leng Beng and CDL said in a statement.

If Sherman Kwek is eliminated as Executive Director, the company plans to replace it on an interim way with its cousin Kwek Eik Sheng.

The dispute focuses on an email sent by the corporate secretary of CDL that pays for two additional independent directors on the night of January 28, the eve of the Lunar New Year, which marks the beginning of an important vacation in Singapore.

The row has attracted public attention in a part of the world in which battles on family businesses are not uncommon and is known to end in court.

After Wednesday’s court, CDL said the two new directors had agreed not to exercise any power until new notice.

Later, the company said Sherman Kwek would remain on paper until the problem was solved.

Sherman Kwek said he and the majority of the CDL Board were disappointed by what he described as extreme actions taken by his father “regarding this disagreement around the size and composition of the CDL Board.”

Kwek Leng Beng, along with his father and his brother, took control of the CDL in the defeat in 1971. He became the firm’s executive president after his father’s death in 1995.

It now has more than 160 hotel, residential and commercial properties worldwide and is part of a multimillion -dollar family empire.

In the succession of the HBO television series, the fictitious Roy Family fights for the control of the Global Media Waystar Royco.