SINGAPORE: Property tycoon Ong Beng Seng, the managing director of Hotel Properties Limited (HPL), has been issued a notice of arrest and asked by the Corrupt Practices Investigation Bureau (CPIB) to provide information in relation to his
“No charges have been filed against Mr Ong. He will be travelling from Jul 14 and will be surrendering his passport to CPIB upon his return to Singapore," HPL said in a company announcement on Friday , adding that he has posted bail of S$100,000.
“As this is an ongoing matter, he is unable to provide further details at this point. He has undertaken to provide updates to the board if there are subsequent material developments," the company said.The 77-year-old billionaire businessman is often credited with playing a key role in a deal struck in 2007 between the Singapore Tourism Board and then-Formula 1 boss Bernie Ecclestone, to bring the first-ever night race to the country.
Mr Ong's HPL, the company he founded, owns the Four Seasons and Hilton hotels and has acquired properties in Australia, Canada, the United Kingdom and the United States.
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