SINGAPORE: Hotel Properties Limited (HPL) announced on 14 April 2025 that its managing director Ong Beng Seng will step down from his position to focus on managing his medical condition.
According to the company’s filing with the Singapore Exchange (SGX), Ong will not be seeking re-election as a director at the upcoming annual general meeting, scheduled for 29 April.
The announcement comes amid ongoing legal proceedings and a personal health battle.
In February, it was revealed that Ong is undergoing treatment for multiple myeloma, a form of white blood cell cancer.
“As Ong wishes to devote more time to manage his medical conditions, he will not be putting himself up for re-election as a director,” HPL stated in its bourse filing.
Connection to Iswaran’s case
Ong’s decision to step away from his executive responsibilities also coincides with his involvement in a high-profile corruption case linked to former transport minister S Iswaran.
Iswaran was sentenced to 12 months’ imprisonment on 3 October 2024 after pleading guilty to several charges, including accepting gifts and obstructing justice. Ong’s name was mentioned in several of those charges.
On 4 October 2024, Ong was formally charged with abetting a public servant in receiving gifts and abetting obstruction of justice.
Court documents allege that Ong encouraged Iswaran to accept a luxury trip to Doha in December 2022.
The trip reportedly included a private jet flight from Singapore to Doha, a night’s stay at the Four Seasons Hotel Doha valued at S$4,737.63, and a business-class return ticket to Singapore worth S$5,700.
The total value of the trip was estimated at S$20,850 (approximately US$15,500).
In May 2023, after investigations by the Corrupt Practices Investigation Bureau (CPIB) had commenced, Ong allegedly informed Iswaran that authorities had seized the flight manifest.
This purportedly led Iswaran to request an invoice from Ong in an effort to conceal the nature of the trip.
The Attorney-General’s Chambers has stated that no further charges will be filed against Ong beyond the two he currently faces.
However, if convicted of obstruction of justice, Ong could face up to seven years in prison, a fine, or both.
A hearing originally scheduled for 2 April 2025 was postponed to 25 April to allow Ong to obtain additional medical reports from his doctors.
Ong’s legal representation is being handled by a team including Aaron Lee of Allen & Gledhill.
Despite the legal challenges, HPL previously expressed confidence in Ong’s leadership.
In a disclosure dated 28 February 2025, the company noted Ong’s intention to plead guilty to the obstruction charge, with the gift-related charge to be taken into consideration during sentencing.
HPL also affirmed its belief in Ong’s continued suitability to serve as managing director at the time.
Ong’s role in Singapore’s F1 history
Ong is a Malaysian national who has long been a prominent figure in Singapore’s business and sporting landscape.
He is widely credited with bringing Formula One to Singapore in 2008, making the country the first in the world to host an F1 night race.
Ong holds the rights to the Singapore Grand Prix and was instrumental in securing the event through direct negotiations with then-F1 chief executive Bernie Ecclestone.
During those negotiations, Iswaran served as the chairman of Singapore’s F1 steering committee and was the lead government negotiator.
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