A major family feud has erupted within Singapore’s billionaire Kwek family as property tycoon Kwek Leng Beng accuses his son, Sherman Kwek, of attempting a boardroom takeover of City Developments Limited (CDL). Kwek Leng Beng, CDL’s executive chairman, has filed court papers seeking to remove Sherman, who currently serves as the company’s CEO.

The dispute began when CDL’s corporate secretary proposed two new independent directors on January 28, just before the Lunar New Year holiday. Kwek Leng Beng claims this was an attempt to seize control of the company. In response, CDL has suspended trading of its shares on the Singapore stock exchange.

Despite the conflict, Sherman Kwek has stated that he and most board members are disappointed by his father’s actions. Meanwhile, Kwek Leng Beng has announced plans to appoint his cousin, Kwek Eik Sheng, as interim CEO if Sherman is removed.

CDL, Singapore’s largest listed real estate firm, was taken over by the Kwek family in 1971 and has since grown into a global property empire. The ongoing power struggle has drawn widespread attention, with many comparing it to the HBO series Succession.