Singapore issues arrest notice for billionaire Ong Beng Seng in CPIB probe involving Iswaran
Singapore's anti-graft agency issued an arrest notice for billionaire Ong Beng Seng as part of its investigation involving transport minister S Iswaran.
Ong, who is managing director of Singapore-listed hotel owner and operator Hotel Properties Limited , has been asked to provide information on his interactions with Iswaran.
In a filing, HPL said no charges have been filed against Ong and that he is fully cooperating with the agency. While he is traveling Friday, the company said Ong will surrender his passport to the Corrupt Practices Investigation Bureau when he returns to Singapore.
The company added that Ong has provided requested information, but is unable to provide further details at this point.
HPL said Ong "continues to be suitable to carry out his duties and responsibilities as managing director," but will continue to monitor the matter and "re-assess the suitability of the continued appointment of Mr Ong."
HPL's portfolio includes 38 hotels and resorts in 15 countries, operating under brands including Four Seasons, Intercontinental Hotels and Marriott International.
Shares of HPL slid as much as 6.7% on Friday, before recovering slightly.
Source: CNBC
