CITIC Association: Hope the board of directors of the city development can resolve differences peacefully

Regarding the disagreement of the board of directors of City Developments, Chairman Guo Lingming publicly accused his eldest son Guo Yizhi of “intention to rebel”. Market insiders believe that it is rare in the local area and hope that all parties can resolve disputes peacefully.

David Gerald, president of the Securities Investors Association of Singapore (SIAS), said: “The association hopes that the board of directors of the city development can resolve disputes peacefully while protecting stakeholders. The board of directors of the city development should also make efforts to resolve events peacefully.”

Zheng Mingshan, former director of the financial group of Lianhe Zaobao, multiple entrepreneurs and financial figures, said in an interview: “It is often heard that the relationship between husband and wife, father and son, and brothers of the family business has broken down, but the relationship between father and son needs to go to court and make the dispute public. It is rare in the Chinese business circles in Singapore and Malaysia.”

Further reading

Guo Lingming: Yang Lieguo and other directors firmly safeguard the highest standard of governance in urban development

Family internal struggle broke out in urban development Guo Lingming accused his son Guo Yizhi of trying to “seize power”