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

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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

    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.

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