SINGAPORE — Singapore on Friday charged property billionaire Ong Beng Seng on two counts relating to the obstruction of justice and abetment, according to local media, in a case involving a former government minister.
Ong, a Singapore-based Malaysian businessman, is the managing director of Singapore-listed hotel owner and operator Hotel Properties Limited.
In July, Singapore’s anti-graft agency issued an arrest notice for Ong as part of its investigation involving former Transport Minister S Iswaran. Ong was asked to provide information on his interactions with Iswaran.
On Thursday, Iswaran was sentenced to 12 months in prison for receiving more than $300,000 worth of gifts and obstructing justice after he pleaded guilty.
HPL’s portfolio includes 38 hotels and resorts in 15 countries, operating under brands including Four Seasons, Intercontinental Hotels and Marriott International.
At the time of arrest, HPL said Ong “continues to be suitable to carry out his duties and responsibilities as managing director,” but will continue to monitor the matter and “re-assess the suitability of the continued appointment of Mr Ong.”
Shares of HPL were halted ahead of the court hearing on Friday.
Ong was credited with bringing Formula One to Singapore in 2008. In 2022, his privately owned firm Singapore GP and the Singapore Tourism Board secured the rights to host the Singapore Grand Prix until 2028.
Singapore’s tourism board estimates that since its debut in 2008, the race has generated more than 1.5 billion Singapore dollars ($1.13 billion) in incremental tourism receipts and attracted more than 550,000 unique international visitors.
Read the full article here
