Managing Director of Hotel Properties Limited Ong Beng Seng has been requested by the Corrupt Practices Investigation Bureau (CPIB) to provide information in relation to his interactions with Minister S Iswaran.

According to a company general announcement provided to Singapore Exchange (SGX) on Jul. 14, 2023, the Board of Directors of Hotel Properties stated that Ong had informed them about the matter.

Ong told the board that no charges has been filed against him, even though he has been given a notice of arrest and had posted bail of S$100,000.

The board said Ong will be travelling from the day of the announcement and “will be surrendering his passport to CPIB upon his return to Singapore”.

The announcement states that Ong is cooperating fully with CPIB and has provided CPIB with the information requested.

The company also pointed out that their Nominating Committee has assessed the situation and determined that it “continues to be suitable to carry out his duties and responsibilities as Managing Director”.

However, they “continue to monitor the progress of the matter” and “ re-assess the suitability of the continued appointment” of Ong.

Who is Ong Beng Seng

Ong Beng Seng is a Malaysian living as a permanent resident in Singapore.

He founded the Singapore-based company Hotel Properties, which manages the Four Seasons Hotels and Resorts, among others.

Ong was said to be among the few who brought the F1 night race to the city-state.

According to Forbes Singapore’s 50 Richest, Ong Beng Seng and his wife, Christina Ong, have a combined net worth of S$1.75 billion, which makes them the 24th richest in Singapore.

Forbes described Ong and his wife as “one of Singapore's most influential couples”.

In addition, Hotel Properties, in partnership with units of Singapore's state-owned investment firm Temasek, bought the real estate assets of media giant Singapore Press Holdings for $2.8 billion in May 2022.

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