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Singapore property tycoon linked to jailed minister pleads guilty
SINGAPORE, AUG 4 – Ong Beng Seng admitted to aiding former minister S. Iswaran in obstructing justice and providing gifts worth over S$400,000 linked to the Singapore Formula 1 night race.
- On Aug 4, 2025, Property tycoon Ong Beng Seng pleaded guilty at the State Courts to abetting the obstruction of justice involving Transport Minister S Iswaran.
- The Doha trip on December 10, 2022, sparked a CPIB investigation that led to arrests in July 2023, involving Ong Beng Seng and Subramaniam Iswaran.
- In May 2023, Ong Beng Seng admitted instructing Singapore GP director Mok Chee Liang to bill Iswaran for a trip valued at S$20,850, with gifts exceeding S$403,000.
- Following the guilty plea, HPL shares tumbled S$0.07 or 1.3% to S$5.39 before recovering to S$5.44, down S$0.02 on Aug 4, 2025.
- Observers warn this verdict could reshape anti-corruption norms in Southeast Asia and stress that corruption erodes investor confidence, highlighting broader regional implications.
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78 Articles
Daily Journal
Malaysia tycoon pleads guilty in Singapore to abetting obstruction of justice
A Malaysian hotel tycoon who helped bring Formula One to Singapore pleaded guilty there Monday to abetting the obstruction of justice, in a case linked to one that saw a former minister jailed for accepting gifts as a public servant…
Tycoon who helped bring F1 to Singapore pleads guilty in rare graft case
Story by Reuters Singapore (Reuters) — Property tycoon Ong Beng Seng pleaded guilty to one charge of abetting the obstruction of justice on Monday in part of a landmark case that led to the jailing of former transport minister S. Iswaran for obtaining valuable items as a public servant last year. However, both the prosecution and defence agreed to grant Ong judicial mercy given his chronic illness, and argued for him to be fined in lieu of impri…
Tycoon who helped bring F1 to Singapore pleads guilty in graft case
Property tycoon Ong Beng Seng pleaded guilty to one charge of abetting the obstruction of justice on Monday in part of a landmark case that led to the jailing of former transport minister S. Iswaran for obtaining valuable items as a public servant last year.
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