City Developments said its executive chairman has dropped a lawsuit against his son, the company's CEO, seeking to resolve a high-profile boardroom tussle at one of Singapore's largest property developers.

Billionaire Kwek Leng Beng has withdrawn the court case he filed against his son last month as the top executives of City Developments jostled for control of the Singapore property giant.

Singaporean billionaire Kwek Leng Beng, executive chairman of City Developments Limited, has dropped a lawsuit against his son, the company's CEO, seeking to resolve the high-profile boardroom tussle at one of Singapore’s largest property developers.

Singapore's City Developments on Wednesday said its billionaire executive chairman, Kwek Leng Beng, had dropped a lawsuit against his son, the company's CEO, whom he had accused of plotting a boardroom coup.