Gate News message, April 22 — Three directors have resigned from Millennium & Copthorne Hotels, a UK-incorporated subsidiary of Singapore’s City Developments Limited (CDL), marking the latest development in a family feud within the Kwek family, which controls the property developer. Jennifer Duong Young, Daniel Desbaillets, and Wong Ai Ai stepped down from the hotel unit’s board after serving for just over a year.
The three were appointed in February 2025 as part of a six-director slate installed in a move widely seen as an attempt to dilute the influence of family patriarch Kwek Leng Beng, who chairs CDL. The appointments triggered a rare public clash within the family; Kwek Leng Beng accused his son and CEO Sherman Kwek of orchestrating a boardroom coup and sued Sherman and other directors, including the three who have now resigned. The patriarch later dropped the lawsuit and reconciled with his son after Catherine Wu, a key adviser to the patriarch, left the hotel unit. Sherman and other board members had sought to reduce Wu’s influence by reshaping the boards of both the hotel subsidiary and the parent company.
CDL said the directors were stepping down “with this now largely addressed” and that the changes will not affect ongoing operations of the unit, which operates properties globally including The Biltmore Mayfair in London. The developer is set to announce findings of a strategic review by mid-2026 as it seeks to rebuild investor confidence, supported by Singapore’s recovering property market.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Robinhood Invests $75M in OpenAI via New Venture Fund
Robinhood, a US trading platform, announced on April 22 that its venture fund invested $75 million in OpenAI as it seeks to provide retail investors access to private technology companies, according to Reuters. The investment comes as OpenAI has attracted strong investor interest amid a rush by
CryptoFrontier2m ago
Tesla Q1 2026 Battery Deployments Fall 15% YoY
Tesla’s lucrative energy storage unit, offsetting waning vehicle sales, fell 15% in Q1 2026 deployments; demand hinges on project timing, solar/wind trends, and AI data-center storage, with capex over $20B heightening cash-flow risk.
Abstract: This article analyzes Tesla's energy storage business, showing it as a higher-margin counterweight to a slipping vehicle division. It notes a 15% drop in first-quarter 2026 deployments, explores potential causes such as project timing and market slowdowns, and highlights growth in Megapack and data-center storage. Revenue has risen markedly from 2021 to 2025, and the unit funds capital expenditure, with expected 2026 capex above $20 billion. The piece discusses market headwinds from slower U.S. solar/wind development and the volatility of energy results, described as 'lumpy' due to project timing, and assesses implications for Tesla's cash flow.
CryptoFrontier14m ago
Keppel Q1 Profit Dips as Real Estate Segment Weakens; Iran War Impact Limited So Far
Gate News message, April 23 — Keppel reported a slight decline in first-quarter net profit on April 23, with lower contributions from its real estate division offset partially by stronger results from infrastructure and connectivity segments. The company flagged limited direct exposure to the
GateNews14m ago
TSMC ADR hits a record high, delays the introduction of ASML’s high-end equipment to control costs
TSMC ADR (U.S. stock ticker: TSM) surged more than 5% yesterday, closing at a record high of $387.44. Using a new Taiwan dollar exchange rate of 31.49, the implied price for Taiwan stock 2330 should be 2,440 yuan. As capital expenditures continue to expand, TSMC will delay the introduction of ASML High-NA EUV equipment. The R&D team has successfully unlocked additional potential on top of existing equipment and continues to advance the process roadmap.
TSM sets a new record high as foreign investors widely raise target prices
Recently, TSMC has benefited from the rapid growth in the AI chip application market, with its ADR share price hitting a new high. Several foreign brokerage firms also raised their target prices based on their financial forecasts. Among them, Barclays raised its target price from $450 to $470.
TSMC ADR closed yesterday at a record high of $387.44
ChainNewsAbmedia32m ago
Grayscale Hints at Bull Market Setup as Bitcoin Holds Critical Breakeven Level
Bitcoin markets are showing signs of a potential bottom as improving price action brings recent buyers back to breakeven. Grayscale points to strengthening positioning as a key signal that sentiment may be shifting toward more bullish conditions.
Key Takeaways:
Grayscale signaled bitcoin may
Coinpedia41m ago
XRP Spot ETF Records $2.41M Net Inflows in Single Day; Bitwise XRP ETF Leads
Gate News message, April 23 — According to SoSoValue, XRP spot ETFs recorded net inflows of $2.41 million yesterday (April 22 ET). Bitwise XRP ETF (XRP) accounted for the entire daily inflow, bringing its historical cumulative net inflows to $419 million.
As of press time, total assets under
GateNews42m ago
