Singapore property tycoon cooperating with anti-graft agency - company

Hotel Properties

14/07/2023 04:25

SINGAPORE, July 14 (Reuters) - Singaporean property
tycoon Ong Beng Seng is cooperating with the city-state's
anti-graft agency in a case launched earlier this week involving
the transport minister, Ong's company said on Friday.
    "No charges have been filed against Mr Ong," the company
Hotel Properties Ltd  HPPS.SI  said in a statement, adding that
Ong has been given a notice of arrest and posted bail of
S$100,000  ($75,843.76).   
    The company added that Ong was asked by the Corrupt
Practices Investigation Bureau (CPIB) to provide information on
his interactions with transport minister S Iswaran.
    Contacted by Reuters the CPIB said it had no immediate
comment on the issue.
    Shares in Hotel Properties were down 4.4% on the news.
    The case, about which the CPIB has provided few details, is
a rare high-level probe in a country that prides itself on a
government free from corruption. 
    Prime Minister Lee Hsien Loong on Wednesday said he had 
instructed Iswaran to take leave of absence until the
investigations were completed. 
    

($1 = 1.3185 Singapore dollars)

 (Reporting by Reuters staff; Writing by Kanupriya Kapoor;
Editing by Martin Petty)
 ((kanupriya.kapoor@thomsonreuters.com;))