At the heart of Singapore’s recent political scandal involving former minister S Iswaran, another key figure emerges – Ong Beng Seng, one of the wealthiest tycoons in the country known for bringing Formula One racing to Singapore.
The co-founder of Hotel Properties Limited (HPL) has been implicated in controversy once again, charged with aiding Iswaran’s misconduct and obstructing justice.
Iswaran was recently sentenced to 12 months in prison for accepting over S$400,000 in gifts from Ong and Lum Kok Seng, causing a ripple effect in Singapore’s political and business circles.
Known as a shrewd businessman and networker, Ong is admired for his ability to identify lucrative opportunities and inject style into Singapore’s landscape.