Ong Beng Seng, 79, to step down from director role at Hotel Properties Limited to manage cancer treatment

Singapore-based property tycoon Ong Beng Seng will step down from his managing director role at Hotel Properties Limited (HPL) from Apr. 29, 2025.

According to the company's Apr. 14 bourse filing with the Singapore Exchange (SGX), the 79-year-old Malaysian cited a desire to devote more time to managing his medical conditions as the reason for his departure.

The announcement follows the making public of his cancer diagnosis in February 2025, during legal proceedings relating to his involvement in former Transport Minister S. Iswaran's corruption case.

No replacement announced

Ong, who had been appointed to the role in March 1980, was a pivotal figure in the company's strategic planning and business development.

His tenure saw the expansion of HPL's portfolio, including partnerships with renowned brands, such as Hard Rock and Four Seasons.

He was also known for bringing the Formula One (F1) night race to Singapore.

Sources familiar with Ong disclosed in February 2025 that he had been diagnosed with multiple myeloma, a type of white blood cell cancer, according to CNA.

He has since been undergoing chemotherapy.

According to HPL, Ong has decided not to seek re-election in the company's next annual general meeting on Apr. 29.

The company has also confirmed that there are no unresolved differences in opinion between Ong and the board, and no matters related to his cessation need to be brought to shareholders' attention.

However, HPL has yet to name his successor.

Previously charged in S Iswaran case

On Oct. 4, 2024, Ong was charged with abetting offences related to his interactions with former Transport Minister S. Iswaran.

The charges alleged that Ong provided Iswaran with valuable gifts, including flights and hotel accommodations, and later attempted to obstruct justice by advising Iswaran to retroactively pay for these benefits.

Iswaran was later sentenced to one year's jail on Oct. 3, 2024.

Top photos via Singapore GP Ptd Ltd & Aiman/Mothership