Singapore Charges Property Tycoon Ong Beng Seng With Offences ...

Hotel tycoon Ong Beng Seng arrives at the State Court in Singapore on October 4, 2024.

A Singapore court on Friday charged property tycoon Ong Beng Seng with two offenses related to a case against former transport minister S. Iswaran, who was convicted earlier of breaking the law by receiving gifts including Formula-1 tickets and a trip to Doha.

The 78-year-old Ong, managing director of Singapore-listed Hotel Properties, was charged with one count of abetting a public servant in obtaining gifts. He also faces a charge of obstructing justice. Singapore’s Attorney-General’s Chambers said the charges “correspond to two of the charges to which Iswaran pleaded guilty” on Sept. 24.

In a brief session at the State Courts on Friday, the charges were read to Ong, who did not enter a plea. The court was adjourned until November 15. Ong declined to answer questions from the media as he left the courthouse escorted by his lawyer and security personnel. “Mr Ong is seeking legal advice on the charges,” a spokesperson for the tycoon said by email late Friday. “As this is an ongoing matter, he is unable to provide further details at this point.”

The charges against Ong were announced one day after 62-year-old Iswaran was sentenced to one year in jail in connection with gifts obtained that had a total value of S$403,300 ($311,000). The prosecution had recommended a prison sentence of six to seven months, but the judge ordered the longer sentence, based on seriousness of the case.

Singapore is known for its zeal for graft-free government. After Iswaran’s sentencing on Thursday, Prime Minister Lawrence Wong said: “Our system ensures that our public officers are accountable. No one is beyond scrutiny or above the law.”

S. Iswaran, Singapore's former transport minister, right, arrives at the High Court in Singapore, on ... [+] Tuesday, Sept. 24, 2024.

Ong’s company Singapore GP is the organizer of the Formula 1 night race in the Lion City.

Hotel Properties—which owns hotels including the Four Seasons in Singapore as well as office buildings and shopping malls—requested a share-trading suspension on Friday before the charges against Ong were read in court. Trading will resume on Monday.

In a regulatory filing late Friday, the company said it believes Ong, who is currently out on bail, can continue to carry out his duties and responsibilities as managing director. “The board and the nominating committee will continue to monitor the progress of the matter and the nominating committee will continue to re-assess the suitability of the continued appointment of Mr Ong,” it added.

Besides real estate, Ong and wife Christina also have interests in London-listed handbag maker Mulberry. They are among the wealthiest in in the city-state with a combined net worth of $1.7 billion, according to the list of Singapore’s 50 richest published by Forbes last month.