ICA to review Ong Beng Seng’s PR status after he was fined for abetting obstruction of justice
[SINGAPORE] Billionaire Ong Beng Seng’s permanent residence (PR) status in Singapore will be reviewed after he was convicted and sentenced for abetting obstruction of justice.
In response to queries from The Straits Times, an Immigration and Checkpoints Authority (ICA) spokesperson said on Friday (Aug 15) that it will review the PR status of Singapore permanent residents who have been convicted of an offence.
“ICA will review Mr Ong Beng Seng’s PR since he has been convicted and sentenced,” added the spokesperson.
Ong, who is a Malaysian Citizen, was fined $30,000 on Aug 15 after he had pleaded guilty earlier to one charge of abetting the obstruction of justice in a case linked to former transport minister S Iswaran.
The judge agreed with the prosecution and defence that judicial mercy should be exercised in this case due to Ong’s ill health.
Ong was born in Malaysia in 1946 and came to Singapore at the age of four.
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He went on to work in international insurance underwriting and broking in Europe, London and South-east Asia before joining Motor & General Underwriters Investment Holdings in the late 1960s.
Ong married Christina Fu, herself a prominent businesswoman, in 1972. In 1975, he joined Kuo International, an oil trading company owned by his father-in-law Peter Fu.
There, he made millions, accurately predicting the ups and downs of oil prices. The capital earned during this time is said to have helped finance his later investments and property developments.
Ong set up Hotel Properties Limited (HPL) in 1980 and went on to acquire a number of hotels around the world, and properties in prime locations such as Orchard Road.
On April 14 in an exchange filing, HPL said that Ong will step down as its managing director at the close of the company’s annual general meeting on April 29, with the tycoon indicating he wanted to devote more time to managing his medical conditions. THE STRAITS TIMES
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