SINGAPORE, Oct 4 — Hotel Properties Limited (HPL), the property and hotel developer co-founded by Ong Beng Seng, has requested a trading halt ahead of the Singapore businessman’s court appearance scheduled for October 4.
In an announcement submitted to the Singapore Exchange around 7.45am, HPL’s company secretary confirmed the halt, citing a pending release of an announcement as the reason, according to a report published in The Straits Times today.
Ong, the managing director and controlling shareholder of HPL, faces one charge under Section 165 for abetting a public servant in obtaining gifts, and another charge of obstruction of justice.
He is set to appear in court at 2.30pm on October 4.
The court appearance follows the sentencing of former transport minister S. Iswaran to 12 months in jail.
Iswaran, 62, was convicted on five charges, including receiving various valuable gifts from Ong, such as an all-expenses-paid trip to Doha, Qatar.
Ong was arrested by the Corrupt Practices Investigation Bureau (CPIB) on July 11, 2023, during a graft probe involving Iswaran.
He is currently out on bail set at S$800,000 (RM2.6 million).
According to court documents, Ong alerted Iswaran in December 2022 that CPIB had seized the flight manifest for the Doha trip.
This led Iswaran to ask Ong to bill him for the flight, an action that formed the basis of Iswaran’s obstruction of justice charge.
Ong, 78, is widely recognised for bringing Formula One to Singapore in 2008, organising the sport’s first-ever night race.
He also owns the rights to the Singapore Grand Prix.
Iswaran, who chaired the F1 steering committee, was the chief negotiator with Singapore GP on business matters related to the race.
