Billionaire hotelier Ong Beng Seng attends a information convention in Singapore Might 11, 2007.
Singapore’s anti-graft company issued an arrest discover for billionaire Ong Beng Seng as a part of its investigation involving transport minister S Iswaran.
Ong, who’s managing director of Singapore-listed lodge proprietor and operator Resort Properties Restricted, has been requested to supply data on his interactions with Iswaran.
In a submitting, HPL mentioned no fees have been filed towards Ong and that he’s absolutely cooperating with the company. Whereas he’s touring Friday, the corporate mentioned Ong will give up his passport to the Corrupt Practices Investigation Bureau when he returns to Singapore.
The corporate added that Ong has supplied requested data, however is unable to supply additional particulars at this level.
HPL mentioned Ong “continues to be appropriate to hold out his duties and tasks as managing director,” however will proceed to observe the matter and “re-assess the suitability of the continued appointment of Mr Ong.”
HPL’s portfolio contains 38 inns and resorts in 15 international locations, working beneath manufacturers together with 4 Seasons, Intercontinental Inns and Marriott Worldwide.
Shares of HPL slid as a lot as 6.7% on Friday, earlier than recovering barely.
Earlier this week, Prime Minister Lee Hsien Loong requested Iswaran to take a go away of absence after CPIB revealed Iswaran was aiding with an investigation.
In response to queries, the prime minister’s workplace informed CNBC that Iswaran will stay within the nation throughout his go away of absence, and won’t have entry to any official assets and authorities buildings.
Ong was credited with bringing System 1 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.
When the rights extension was introduced, Iswaran mentioned the race “continues to be a robust focus for vacationers, world occasions and enterprise conferences. We now have determined to proceed internet hosting the F1 race for an additional 7 years, after completely evaluating the long run advantages {that a} time period extension might convey to Singapore.”
