Billionaire hotelier Ong Beng Seng attends a information convention in Singapore Might 11, 2007.
SINGAPORE — Singapore on Friday charged property billionaire Ong Beng Seng on two counts referring to the obstruction of justice and abetment, based on native media, in a case involving a former authorities minister.
Ong, a Singapore-based Malaysian businessman, is the managing director of Singapore-listed resort proprietor and operator Resort Properties Restricted.
In July, Singapore’s anti-graft company issued an arrest discover for Ong as a part of its investigation involving former Transport Minister S Iswaran. Ong was requested to supply data on his interactions with Iswaran.
On Thursday, Iswaran was sentenced to 12 months in jail for receiving greater than $300,000 value of presents and obstructing justice after he pleaded responsible.
HPL’s portfolio consists of 38 inns and resorts in 15 international locations, working below manufacturers together with 4 Seasons, Intercontinental Motels and Marriott Worldwide.
On the time of arrest, HPL stated Ong “continues to be appropriate to hold out his duties and obligations as managing director,” however will proceed to watch the matter and “re-assess the suitability of the continued appointment of Mr Ong.”
Shares of HPL had been halted forward of the courtroom listening to on Friday.
Ong was credited with bringing Method One to Singapore in 2008. In 2022, his privately owned agency Singapore GP and the Singapore Tourism Board secured the rights to host the Singapore Grand Prix till 2028.
Singapore’s tourism board estimates that since its debut in 2008, the race has generated greater than 1.5 billion Singapore {dollars} ($1.13 billion) in incremental tourism receipts and attracted greater than 550,000 distinctive worldwide guests.
—CNBC’s Lim Hui Jie contributed to this story.
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