City Developments in the midst of a board exodus

Lim Yin Nee Jenny is the fourth director to resign from the property developer's board.

City Developments Limited (CDL) has announced the fourth resignation from its Board of Directors, effectively disbanding its board committee.

The property development firm has accepted the notice of resignation of Lim Yin Nee Jenny as an independent non-executive director of the compny.

Lim has also stepped down as lead independent director, chairman of the audit and risk committee, chairman of the remuneration committee, member of the nominating committee, and member of the board committee.

Kwek Leng Peck, Koh Thiam Hock and Tan Yee Peng had previously resigned from CDL's board over disagreements with its investment with China-based Sincere Property Group and the retirement of Tan Poay Seng from the board.

Following Lim's resignation, Lee Jee Cheng Phillip has been appointed to replace her as lead independent director and chairman of the audit and risk committee.

The board has been recomposed to make up for the recent resignations.

The board committee, which assists the board in the approval of matters, was disbanded on May 3 along with Lim's resignation.