Billionaire hotelier Ong Beng Seng attends a press conference in Singapore on May 11, 2007.
SINGAPORE – Singapore on Friday charged real estate billionaire Ong Beng Seng with two counts of obstruction of justice and abetment in a case involving a former government minister, local media reported.
Mr Ong, a Malaysian businessman based in Singapore, is the Managing Director of Hotel Properties Limited, a Singapore-listed hotel owner and operator.
In July, Singapore’s anti-corruption authorities issued an arrest notice for Mr Ong as part of an investigation into former Transport Minister S Iswaran. Mr Ong was asked to provide information about his interactions with Mr Iswaran.
On Thursday, Iswaran was sentenced to 12 months in prison after pleading guilty to accepting gifts worth more than $300,000 and obstruction of justice.
HPL’s portfolio includes 38 hotels and resorts in 15 countries, operating under brands such as Four Seasons, InterContinental Hotels, and Marriott International.
At the time of his arrest, HPL said that Mr. Ong “remains competent to carry out his duties and responsibilities as a managing director” but that it would continue to monitor the matter and “reassess the suitability of Mr. Ong’s continued appointment.” Ta.
HPL’s shares were suspended ahead of Friday’s court hearing.
Stock chart iconStock chart icon
Mr Ong is credited with bringing F1 to Singapore in 2008. In 2022, his private company Singapore GP and the Singapore Tourism Board secured the rights to host the Singapore Grand Prix until 2028.
The Singapore Tourism Board estimates that the race has generated more than S$1.5 billion ($1.13 billion) in increased tourism revenue and attracted more than 550,000 unique foreign tourists since its inaugural run in 2008. I’m doing it.
—CNBC’s Lim Hui Jie contributed to this article.
This is breaking news. Please check back later for more information.
