CDL group CEO Sherman Kwek forgoes $1.35m long-term incentive grant

He received a total compensation of $2.97m.

Sherman Kwek, group chief executive officer of City Developments Limited (CDL), has voluntarily decided to forgo his 2024 long-term incentive (LTI) grant of $1.35m.

For the fiscal year 2024, Kwek received a total compensation of $2.97m.

His compensation package for the year included a fixed salary accounting for 33.3% of the total, short-term incentives making up 59.6%, board and committee fees at 4.2%, and the remaining portion attributed to other benefits.

The nomination and remuneration committee (NRC) acknowledged and expressed their appreciation for Kwek’s leadership and unwavering commitment to the group.

CDL Group reported a net profit of $201.3m for FY 2024, compared to $317.3m in FY 2023

Follow the link for more news on

City Developments Limited

Also Read

Industrial vacancy rose 8.8% YTD

Frasers Property Industrial forms A$600m logistics venture in Australia

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit