AGC to decide on possible action against billionaire Ong Beng Seng after Iswaran's case concludes

The AGC added that the CPIB has also investigated Ong.

Matthias Ang | January 18, 2024, 12:29 PM

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The Attorney-General's Chambers (AGC) will make a decision on hotelier Ong Beng Seng, after the proceedings into former Transport Minister S Iswaran has concluded.

In response to media queries, the AGC said:

"The Attorney-General’s Chambers will take a decision in respect of the investigations against Mr Ong and others, after the case against Mr S Iswaran has been completed, including the presentation of evidence in court."

The AGC also highlighted that apart from Iswaran, the Corrupt Practices Investigation Bureau (CPIB) has investigated the role of other parties involved, including Ong.

Iswaran charged with corruption on Jan. 18, accepted gratification from Ong

Iswaran was charged with corruption on Jan. 18.

The first corruption charge against Iswaran alleges that he corruptly obtained gratification worth over S$145,000 from property tycoon Ong Beng Seng.

This was in exchange for advancing Ong's business interests in relation to a contract between Singapore GP and the Singapore Tourism Board (STB).

The second corruption charge alleges that Iswaran corruptly obtained gratification from Ong, in exchange for advancing his business interests over a contract with a public body over the Singapore GP-STB facilitation agreement, as well as a proposal for a contract with STB to establish the ABBA Voyage virtual concert in Singapore.

Charges of accepting valuable items while a public servant

Iswaran also faces 24 charges of accepting valuable items from Ong while he was a public servant.

The valuable items, which were worth over S$218,000 and included Singapore Grand Prix tickets, were allegedly accepted by Iswaran between November 2015 and December 2021.

Iswaran also faces one charge of obstructing justice in May 2023.

He arrived at the State Courts on Thursday morning at 8:10am, accompanied by Senior Counsel Davinder Singh.

The man who brought F1 to Singapore

Ong is behind the Formula One (F1) night races in Singapore.

Leveraging on his friendship with the F1 boss Bernie Eccleston, Ong helped close the deal to bring the F1 race to Singapore after a year of negotiations in 2007.

In October 2022, Singapore once again hosted the Formula 1 Grand Prix after Singapore GP, backed by Ong and the Singapore Tourism Board.

They secured the franchise to host the race for another seven years through 2028.

As of 2022, Ong and his wife were also ranked the 24th richest people in Singapore, estimated by Forbes to have a combined net worth of US$1.75 billion (S$2.3 billion).

Top left photo via Singapore GP Ptd Ltd, right photo via Andrew Koay/Mothership