On 14 July 2023, it was revealed that billionaire Ong Beng Seng was given a notice of arrest in relation to the S Iswaran corruption case.
Unlike the transport minister who had his passport impounded immediately, Mr Ong was allowed to travel to Bali one last time on Friday, 14 July 2023.
Which brings up the question, will he run?
Well, apparently not.
Ong Beng Seng is Back in Singapore After A Trip to Bali While on Bail
On 17 July 2023, Mr Ong’s private jet touched down at Seletar Airport at 5.15pm. He was seen being ushered into a black Audi sedan, speeding off at around 5.30pm.
His wife, Mrs Christina Ong, was also seen accompanying him.
Mr Ong will reportedly be surrendering his passport to the Corrupt Practices Investigation Bureau (CPIB) upon his return.
No Charges Pressed Against Tycoon Ong Beng Seng
When the news first broke out about Mr Ong Beng Seng’s notice of arrest, his company made a statement on the matter.
Three matters were revealed in the statement:
- No formal charges have been brought against Mr Ong
- Mr Ong was issued a notice of arrest and posted a bail of $100,000
- He was allowed to travel to Bali on 14 July 2023 and will surrender his passport to CPIB upon his return
More About Mr Ong Beng Seng
Ong Beng Seng is a very successful hotelier and businessman in Singapore.
He is the founder and managing director of Hotel Properties Limited (HPL), a company which is literally what its name sounds like; it dabbles in hotels and properties.
He is also the man you should thank for bring the F1 Grand Prix to Singapore.
While the nature of the CPIB investigation isn’t made clear yet, it was stated that Mr Ong was questioned about his interactions with Mr Iswaran.
The current CPIB investigation isn’t the first time Ong is getting embroiled in trouble.
You might recognise Ong’s name from an earlier controversy in 1996 when he sold properties to then-Senior Minister Lee Kuan Yew and Prime Minister Lee Hsien Loong at a discount.
The matter was so severe it even went to Parliament.
The 1996 saga involved the purchase of four luxury condominiums developed by HPL—two units in Nassim Jade and two units in Scotts 28.
LKY and LHL were given discounts of up to 12%.
The conclusion made by then-Prime Minister Goh Chok Tong was that there was no shady business going on. The discounts were akin to “early bird discounts”, and the discounted sums were funnelled to charity.
You can find out more about the tycoon Ong Beng Seng here.