SINGAPORE: Hotel Properties Limited ( HPL), the company owned by tycoon Ong Beng Seng, requested a trading halt on Friday morning ( Oct 4 ) ahead of the billionaire’s scheduled court appearance.  ,
According to a Singapore Exchange observe that was submitted at around 7.45 am, the reason for the buying end was the pending launch of an statement.
The businessman and Singapore GP mind are scheduled to be charged with S Iswaran’s situation on Friday afternoon.  ,
The offenses alleged to be abetting one matter each under Part 165 and Section 204A of the Penal Code. While Area 204A deals with obstructing justice, Part 165 deals with a public servant obtaining belongings.
Court records also indicated that the property tycoon is out on S$ 800, 000 ( US$ 617, 000 ) bail.
Mr Ong, a Malaysian who is based in Singapore, was arrested in July 2023 and released on bail. He had not originally been charged.
The 78-year-old was named in Iswaran’s first bone costs, which alleged that the then-transport secretary had fraudulently obtained from Mr Ong tickets to the 2022 Singapore Formula 1 Grand Prix, as well as flights and a resort stay in Doha.