After being charged in court on Friday ( Oct 4 ) for his involvement in the case of former transport minister S Iswaran, property tycoon Ong Beng Seng will continue to serve as the managing director of Hotel Properties Limited ( HPL).  ,
Under Section 165 and Section 204A of the Penal Code, the businessman and nose of Singapore GP were each given one command. Part 204A deals with obstructing justice, while Section 165 deals with a public servant obtaining goods.
Ong is currently out on a S$ 800, 000 ( US$ 617, 000 ) bail.  , In a regulatory processing, HPL, which is owned by the 78-year-old, said that Ong had informed the business on the two expenses and that he , is seeking legal counsel.
He is unable to provide more details at this time because this is an ongoing subject. If there are any upcoming significant advances, he has pledged to keep the table informed.”
The voting panel for HPL said it had “assessed the above and determined that Ong continues to be a suitable person for his duties and responsibilities as managing producer.”
The committee and the voting committee will continue to monitor the status of the subject, and the selecting committee will continue to evaluate the eligibility of Ong’s continued appointment.
HPL noted that neither the business nor any other members of the group have been charged.
The real estate firm requested a stop in trading on Friday night in advance of the banker’s scheduled court appearance.  ,
According to a Singapore Exchange see that was submitted at around 7.45 am, the reason for the trading end was the pending launch of an statement.
Ong, a Malaysian who is based in Singapore, was arrested in July 2023 and released on bail. He had not originally been charged.
He was named in Iswaran’s first graft allegations, which claimed the then-transport secretary had illegally obtained from Ong cards to the 2022 Singapore Formula 1 Grand Prix, as well as airfares and a hotel stay in Doha.