Both Iswaran and HPL’s Ong Beng Seng arrested on Jul 11, out on bail in CPIB probe
Michelle Zhu
BOTH Transport Minister S Iswaran and Hotel Properties Ltd (HPL) managing director Ong Beng Seng were arrested on Tuesday (Jul 11), the Corrupt Practices Investigation Bureau (CPIB) said on Friday, in response to queries from The Business Times.
They were subsequently released on bail.
HPL announced in a bourse filing on Friday morning that Ong has been asked by CPIB to provide information on his interactions with Iswaran. No charges have been filed against Ong, but he has posted bail of S$100,000.
The minister is currently on a leave of absence while assisting in CPIB investigations into a case uncovered by the anti-graft agency.
Details of the probe have yet to be revealed, but Deputy Prime Minister Lawrence Wong on Wednesday (Jul 12) said that the government and PAP would not sweep anything under the carpet, even if disclosure is potentially embarrassing or damaging.
Ong will be travelling from Jul 14, and will surrender his passport to CPIB upon his return to Singapore.
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CPIB said that as part of bail conditions, subjects’ passports are impounded. Subjects on bail can however make requests to travel overseas, and CPIB will assess such requests on a case-by-case basis.
“CPIB assessed and acceded to Ong’s request to travel overseas. Ong’s bail quantum was also increased to S$100,000,” the bureau said.
HPL said Ong is “cooperating fully with CPIB and has provided the information requested”.
“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.”
That said, the company’s nominating committee determined that he continues to be suitable to carry out his responsibilities as managing director.
A representative for Ong said he was unable to comment, because of the ongoing investigation.
Ong and his wife, Christina Ong, are among Singapore’s wealthiest couples.
Forbes put their net worth at US$1.7 billion as at August 2022. Their business interests span a wide range of industries including hotels, fashion, and food and beverage companies.
Ong is also credited as being one of those responsible for bringing the Formula 1 race to Singapore, as the world’s first night race in 2008.
Shares of HPL ended Friday S$0.10 or 2.6 per cent lower at S$3.76.
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