Singapore charged property tycoon Ong Beng Seng on Friday in connection with an ex-government minister who was sentenced to jail for obtaining gifts from the billionaire.
The 78-year-old Ong didnât immediately enter a plea in response to the charges of abetment and obstruction of justice, and didnât respond to questions when he left court. In a later statement, a spokesperson said the businessman is âseeking legal advice on the charges,â adding heâs unable to provide further details on an ongoing matter.
Ong, the managing director of Hotel Properties Ltd, will stay in his current role after the firm determined that he âcontinues to be suitable to carry out his duties and responsibilities,â the Singapore-listed firm said in an exchange filing late Friday. The company will continue to assess his suitability for the position, it said, while also noting that it hadnât been charged.
The charges come a day after former transport minister S. Iswaran was handed a 12-month prison term for obtaining valuable items as a public servant and obstruction of justice.
The scandal has rocked the city-state, known for its zeal for clean governance, with Iswaran having become the first former minister to be sentenced to prison in almost half a century. It has also tested the Peopleâs Action Party, which has ruled Singapore uninterrupted since independence in 1965, with Prime Minister Lawrence Wong preparing for a general election that must be held by November 2025.
âNo one is beyond scrutiny or above the law,â Wong said in a statement after Iswaran was sentenced on Thursday. âMy team and I will continue to uphold the highest standards of integrity and propriety.â
Ong, who had bail set at S$800,000 ($617,000), allegedly abetted Iswaran over two flights and a nightâs stay at the Four Seasons hotel in Doha, with a total value of S$20,848.03. He was also accused of abetting the ex-minister in obstructing the course of justice. That corresponds with two of the five charges to which Iswaran pleaded guilty to on Sept. 24.
The prosecution said it wonât tender charges against Ong for his involvement in any of the other accusations faced by Iswaran. It is also not going to charge Lum Kok Seng, the Managing Director of local construction firm Lum Chang Holdings Ltd., in connection with the Iswaran case, the Attorney-Generalâs Chambers said in a statement.
The case has been adjourned until Nov. 15.
Ong, who was arrested in July 2023, has a $1.15 billion fortune, according to Bloomberg estimates. Heâs a flamboyant figure in Singapore business circles, and is widely credited for bringing Formula One to the city. The tycoon owns the rights to the Singapore Grand Prix, which he attended in September, and is chairman of race promoter Singapore GP Pte.
But Ongâs business practices were placed under the microscope after his ties with Iswaran led to the worst graft scandal in the financial hub for decades.
Most of the court charges levelled against Iswaran dealt with his interactions with Ong. The allegations ranged from Iswaran obtaining tickets for UK soccer matches and taking a flight on Ongâs private jet to obtaining tickets to the F1 race in Singapore and tickets to musicals in London. Iswaranâs lawyers argued in court that the valuable items were gifts from his friend Ong.
Hotel Properties has interests in hotels under the Four Seasons chain and develops luxury condos in cities like London and Singapore. It requested a trading halt on Friday and asked in the evening for it to be lifted.
The Ong family also has a controlling stake in British luxury handbag maker Mulberry Group Plc, and recently rebuffed a takeover approach from Mike Ashleyâs Frasers Group Plc.
By Low De Wei and Bernadette Toh
Learn more:
Mulberry Wants to Go It Alone, Rejects Frasers Takeover Bid
Mulberry Group Plc has rebuffed a 130 pence-a-share takeover bid from Mike Ashleyâs Frasers Group, asserting confidence in its new CEOâs ability to revitalise the brand.
