The Business Times
business-time-50
SUBSCRIBERS

Hot stock: HPL falls 2.6% on news of CPIB probe into Ong Beng Seng

google-preferred-sourceAdd BT as a preferred source
Michelle Zhu

Michelle Zhu

Published Fri, Jul 14, 2023 · 10:51 AM
    • HPL's share price is recovering after falling as much as S$0.27 or 6.7 per cent to S$3.59 at the opening bell.
    • HPL's share price is recovering after falling as much as S$0.27 or 6.7 per cent to S$3.59 at the opening bell. PHOTO: YEN MENG JIIN, BT

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    SHARES of Hotel Properties Limited (HPL) closed 2.6 per cent lower on Friday (Jul 14) after the company announced that its co-founder and managing director, Ong Beng Seng, had been issued a notice of arrest.

    The hotel-focused investment holding company fell as much as S$0.27 or 7 per cent to S$3.59 at the opening bell.

    It eventually climbed to its closing price of S$3.76, down S$0.10 or 2.6 per cent, after 407,800 shares worth S$1.5 million changed hands.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Hot StockHotel Properties Ltd

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    Malaysia Madani, or Civil Malaysia, is Prime Minister Anwar Ibrahim's slogan encapsulating positive values (such as humanity and strong governance) that would shape policy direction. But the "corporate mafia" claims have now cast the spotlight on governance credibility.

    From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?

    While residential property has delivered solid gains, observers say other assets such as equities often outpace it over the longer term.

    Higher costs, lower returns: Why are Singaporeans still betting on real estate?

    Malaysia ranks 23rd globally on the Milken Institute’s global opportunity index.

    South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report

    Eu Yan Sang group chairman Richard Eu has been with the company since 1989 and has seen plenty of change over the years, such as how employees view their jobs.

    Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More