Singapore, July 14: Singapore Hotelier Ong Beng Seng has been issued a notice of arrest by the Corrupt Practices Investigation Bureau (CPIB) and is cooperating with the anti-graft body to provide information in relation to his interactions with Transport Minister S Iswaran.
Hotel Properties Limited said in a statement to the Singapore Exchange at 7.30 am on Friday that no charges have been filed against Ong (77), who is the founder and managing director of the company.
Ong is known as the man who brought Formula One to Singapore.
Race promoter Singapore GP, of which Ong is chairman, foots 40 per cent of the cost of staging the SGD135-million-night race. The Ministry of Trade and Industry and Singapore Tourism Board fund the remaining 60 per cent.
“He (Ong) will be traveling from July 14 and will be surrendering his passport to the CPIB upon his return to Singapore. He has been given a notice of arrest and has posted bail of SGD100,000,” The Straits Times reported, citing the statement.
Hotel Properties added that Ong is cooperating with the CPIB and has provided the information requested.
“As this is an ongoing matter, he (Ong) 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.
Hotel Properties said Ong will continue his duties and responsibilities as managing director in the meantime after the nominating committee determined that he is suitable to do so.
“The Board and the nominating committee will continue to monitor the progress of the matter and the nominating committee will continue to re-assess the suitability of the continued appointment of Ong,” the company said.
Iswaran, who is also the Minister-in-charge of Trade Relations, is assisting with an investigation into a case uncovered by the CPIB. It did not give details on the nature of the investigation.
Iswaran (61), has taken a leave of absence from his ministerial and related posts until the investigation is completed under the direction of Prime Minister Lee Hsien Loong.
The Prime Minister’s Office on Wednesday said Iswaran will remain in Singapore during this period and will have no access to any official resources and Government buildings. (PTI)
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