SINGAPORE: Property tycoon Ong Beng Seng, the managing director of Hotel Properties Limited , has been issued a notice of arrest and asked by the Corrupt Practices Investigation Bureau to provide information in relation to his interactions with Transport Minister S Iswaran.
“As this is an ongoing matter, he is unable to provide further details at this point. He has undertaken to provide updates to the board if there are subsequent material developments," the company said. The 77-year-old billionaire businessman is often credited with playing a key role in a deal struck in 2007 between the Singapore Tourism Board and then-Formula 1 boss Bernie Ecclestone, to bring the first-ever night race to the country.contract for Singapore to host the Formula 1 Grand Prix for another seven years
Mr Ong's HPL, the company he founded, owns the Four Seasons and Hilton hotels and had acquired properties in Australia, Canada, the United Kingdom and the United States. “The board and the nominating committee will continue to monitor the progress of the matter and the nominating committee will continue to reassess the suitability of the continued appointment of Mr Ong," it said.File photo from Aug 31, 2007 showing Ong Beng Seng of Singapore GP and S Iswaran, Singapore Minister of State for Trade and Industry, at the groundbreaking ceremony to mark the start of work on the pit building for the Formula One Singapore Grand Prix.
Source: Real Estate Daily Report (realestatedailyreport.net)
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