The Managing Director of Hotel Properties Limited (HPL), Mr Ong Beng Seng, has been issued a notice of arrest in relation to Transport Minister S Iswaran’s CPIB investigation.
No charges have been filed against him, and he has posted bail of S$100,000.
The Corrupt Practices Investigation Bureau (CPIB) has asked Mr Ong to provide information regarding his relations with Mr Iswaran.
According to HPL, he has been “fully cooperating with the anti-corruption agency” and has provided the required information.
Channel NewsAsia (CNA) reported that Mr Ong will be travelling from today (14 July), but didn’t disclose the purpose of travel.
Immediately upon returning to Singapore, he will have to surrender his passport.
“As this is an ongoing matter, he is unable to provide further details at this point,” said HPL in a company announcement.
Additionally, the company stated that Mr Ong will update the board “if there are subsequent material developments”.
According to CNA, the 77-year-old was spotted leaving CPIB headquarters on Wednesday (12 July).
This was after the agency announced that Mr Iswaran was assisting with a case.
Mr Ong is the founder of HPL, which owns multiple hotels including Four Seasons.
HPL and Temasek were part of a consortium that bought Singapore Press Holdings’ (SPH) real estate assets in May 2022.
Most notably, Mr Ong played an instrumental role in securing a 2007 deal to bring the first-ever night race to Singapore.
Source: @STSportsDesk on Twitter
CNA noted that he owns the rights to the Singapore Grand Prix.
Last year, the contract for Singapore to host the Formula 1 Grand Prix for another seven years was signed.
Mr Iswaran, who is also minister-in-charge of Trade Relations, made notes about the renewal.
He said it would help “sustain Singapore’s reputation as a global city with a vibrant lifestyle”.
Additionally, it would draw “international visitors as travel rebounds” and generate “business revenue and jobs for Singaporeans”.
Based on a 2007 Reuters report, the duo had business ties when Mr Iswaran was at Temasek.
In light of the situation, HPL said that Mr Ong “continues to be suitable” as the company’s managing director.
He will thus continue to carry out his duties and responsibilities.
However, the board and nominating committee will “continue to monitor the progress of the matter”.
The committee will also “continue to reassess the suitability of the continued appointment of Mr Ong”.
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Featured image adapted from S Iswaran on Facebook.
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