SINGAPORE: Property tycoon Ong Beng Seng is set to step down as managing director of Hotel Properties Limited (HPL) at the conclusion of the company's annual general meeting on Apr 29.
In an exchange filing on Monday (Apr 14), HPL said that this would allow Mr Ong to "devote more time to manage his medical conditions".
He will also not be putting himself up for re-election as a board director.
Mr Ong's health condition came to light amid an ongoing court case linked to former transport minister S Iswaran.
It was reported in February that Mr Ong had been diagnosed with bone marrow cancer.
The 79-year-old was charged with two offences in October 2024.
He is accused of abetting the former minister in obtaining an all-expenses paid trip to Doha worth about S$20,850 (US$15,830) in December 2022.
The second charge alleges that Ong abetted the obstruction of justice by intentionally aiding Iswaran in May 2023, when the Corrupt Practices Investigation Bureau had begun its probe, by paying S$5,700 to Singapore GP for a business class flight ticket from Doha to Singapore over the same trip.
Following a pre-trial conference in February, his decision to plead guilty was reflected in an update on the court’s case management system.
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In an exchange filing on Monday (Apr 14), HPL said that this would allow Mr Ong to "devote more time to manage his medical conditions".
He will also not be putting himself up for re-election as a board director.
Mr Ong's health condition came to light amid an ongoing court case linked to former transport minister S Iswaran.
It was reported in February that Mr Ong had been diagnosed with bone marrow cancer.
The 79-year-old was charged with two offences in October 2024.
He is accused of abetting the former minister in obtaining an all-expenses paid trip to Doha worth about S$20,850 (US$15,830) in December 2022.
The second charge alleges that Ong abetted the obstruction of justice by intentionally aiding Iswaran in May 2023, when the Corrupt Practices Investigation Bureau had begun its probe, by paying S$5,700 to Singapore GP for a business class flight ticket from Doha to Singapore over the same trip.
Following a pre-trial conference in February, his decision to plead guilty was reflected in an update on the court’s case management system.
Continue reading...