Hong Kong
CNN
—
A corruption investigation in Singapore has expanded to include Ong Beng Seng, a hotel tycoon best known for bringing the Formula 1 Grand Prix to the wealthy city state.
Ong, managing director of Hotel Properties Limited, was arrested last Tuesday, along with Minister of Transport S. Iswaran, according to the country’s anti-corruption agency, the Corrupt Practices Investigation Bureau (CPIB).
Both men were later released on bail, the bureau told CNN late Friday.
Ong was asked by the agency to provide information about his interactions with Iswaran, his company said in a Friday filing to the stock exchange.
The agency launched an investigation into a case involving the transport minister on Tuesday, in a rare corruption probe involving a cabinet-level official.
Ong’s company said he had posted bail of 100,000 Singapore dollars ($76,000) after being given a notice of arrest. No charges have been filed against him, it said.
Ong was expected to be traveling from Friday and will give up his passport upon returning to Singapore, his firm said, without sharing more details.
The CPIB said the property tycoon had asked for permission to travel, a request the agency granted after increasing his required payment for bail. He is required to report to the agency upon return, it added.
The businessman “is cooperating fully with CPIB and has provided the information requested,” the company added.
Shares in Hotel Properties closed 2.6% in Singapore Friday following the news.
The company owns the Four Seasons hotels in the Maldives and Malaysia, among other luxury properties in Singapore, London and Bangkok.
Ong is also the sole shareholder of the Singapore Grand Prix, organizer of the marquee sporting event, his spokesperson confirmed to CNN.
The news about Ong emerged just days after Prime Minister Lee Hsien Loong said he had asked the transport minister to take a leave of absence.
Iswaran was “assisting CPIB” with the investigation, Lee said in a Wednesday statement.
Lee’s office did not provide comment Friday regarding Ong’s arrest or more information about who else may be called to help with the case.
The CPIB has said it was unable to provide further details on the case pending ongoing investigations.
Eugene Tan, associate law professor at Singapore Management University, told CNN that the last similar corruption probe involving a cabinet minister was in 1986.
Corruption probes involving ministers are rare in Singapore, where officials are paid well to discourage graft. The average annual salary of ministers was about 1.1 million Singapore dollars (nearly $834,000), according to the government.
In a Facebook post, Deputy Prime Minister Lawrence Wong urged the public to allow the investigations to take place without speculation.
“We will be upfront and transparent; we will not sweep anything under the carpet, even if they are potentially embarrassing or damaging to the PAP,” he wrote, referring to the ruling People’s Action Party.
