The Singapore property giant announced that Kwek Leng Peck, cousin of CDL executive chairman Kwek Leng Beng, will officially rejoin the board as a non-independent and non-executive director starting June 1. He will also serve as the company’s vice-chairman.

His return marks a major development for the company after years of internal tensions linked to some of CDL’s past business decisions. Kwek Leng Peck had stepped down from the board in 2020 after expressing concerns over CDL’s investment strategy, particularly the acquisition involving China’s Sincere Property Group.

At the time, he publicly criticized the company’s handling of the investment, warning that it carried significant financial risks. He also questioned management decisions related to Millennium & Copthorne Hotels, CDL’s London-based hotel subsidiary.

The Sincere Property investment later turned into one of the company’s largest financial setbacks. CDL eventually withdrew from the troubled Chinese developer in 2021 after suffering losses estimated at around S$1.78 billion.

Kwek Leng Peck’s return comes at a time when CDL has also been dealing with leadership disagreements within the Kwek family. Earlier disputes between chairman Kwek Leng Beng and group chief executive Sherman Kwek, his son, attracted widespread attention in Singapore’s corporate sector as questions emerged over governance and strategic control within the company.

Industry observers believe the return of Kwek Leng Peck could help stabilize the board and strengthen oversight as CDL continues focusing on long-term recovery and growth.

In another boardroom change, CDL announced that director Daniel Marie Ghislain Desbaillets will step down at the end of May to focus on personal family business matters.