Chairing the AGM was CDL Executive Chairman Mr Kwek Leng Beng (7th from left), who was joined by members of the Board and Management Executive Committee.
Singapore, 24 April 2024 – City Developments Limited (CDL) held its 61st Annual General Meeting (AGM) at M Hotel Singapore, which witnessed a strong turnout of around 300 shareholders both in-person and remotely via webcast.
Chaired by CDL Executive Chairman Mr Kwek Leng Beng, the session began with a presentation by CDL Group Chief Executive Officer Mr Sherman Kwek, followed by a lively dialogue with shareholders, who raised many insightful questions.
To maximise shareholder value and deliver sustainable shareholder returns, Mr Kwek shared the Group’s focus on eight key pillars for the year ahead, which includes improving its return on equity (ROE), capital recycling as well as growing its assets under management (AUM), underpinned by a robust environmental, social and governance (ESG) framework.
During the AGM, all proposed resolutions secured resounding support from shareholders, with the majority of them receiving over 99% ‘for’ votes. Key resolutions included the declaration of a Final Ordinary Dividend and the re-election of some of the Board of Directors. Shareholders were also provided with the CDL Annual Report 2023, which features a special and vibrant prismatic cover to commemorate the joyous spirit of the Group’s 60th anniversary last year.
Mr Kwek also took the opportunity to express the Group’s heartfelt appreciation to shareholders for their unwavering support and confidence in their endeavours. With the continued support from valued shareholders and stakeholders, CDL looks forward to scaling even greater heights of excellence, anchored on its Growth, Enhancement, and Transformation (GET) strategy.
Last year, CDL also held its AGM in a hybrid format, with a remote attendance option via webcast for shareholders who preferred to participate virtually rather than in-person.
