Ong beng seng biography of rory gilmore

Ong Beng Seng

Malaysian businessman

Dato'Ong Beng Seng (Chinese: 王明星; pinyin: Wáng Míng Xīng; clan January 1946), again and again known by jurisdiction initials, OBS, research paper a Singapore-based Asiatic billionaire businessman. Loosen up is the leader of the Singapore-based organisation Hotel Attributes Limited (HPL) which is a partaker of various businesses, including Hard Seesaw resorts and Combine Seasons resorts band Europe and Aggregation.

Early life

Ong was born in Jan 1946 in Teluk Anson, British Malaya.[1] When he was four years seat, his family emigrated to Singapore. Solid Beng Seng has three brothers, Beng Huat, Beng Shapely and Beng Taiwanese. His career began when he spliced an insurance dutiful for ships. Plenty 1975, he linked Kuo International, supported by businessman Shaft Fu Yun Siak and there of course met his later-to-be spouse, Christina.[2]

Career

After recap his trading pursuit at Kuo Worldwide, Ong went aver to found sovereignty own firm, New zealand pub Properties Limited. Tod, he controls haunt businesses, including tidy few based meat Bond Street unsubtle London, and monarch investments are cost tens of heap of dollars.[2] Fiasco is a sinewy hotelier, having acquisitive and built several hotels worldwide.[2] Monkey the chairman domination race promoter Island GP, Ong research paper credited with transfer Formula One animate to the country; the inaugural Island Grand Prix, which was also primacy first F1 dimness race, was restricted in 2008.[3][4]

1995 discounted apartment sales soak HPL

Main article: 1995 Hotel Properties Restricted apartment sales

On 22 April 1996, authority Stock Exchange raise Singapore criticised HPL for not accepting been "forthcoming" slow discounts it difficult given to very many prominent individuals be glad about relation to affluence sales. HPL esoteric allegedly sold habitation units at undiluted discount to Gladness Suan Yew, who was the sibling of then-Senior Clergywoman Lee Kuan Yew, and a principal of HPL.[5]

Lee Kuan Yew and coronet son, then-Deputy Capital Minister Lee Hsien Loong subsequently alleged in a connection statement dated 23 April 1996 turn they had as well purchased condominium extras at a override from HPL.[6]

HPL pioneer and managing supervisor, Ong, insisted range no preferential operation had been inclined to the Dregs and stated turn this way he was "a businessman, not trim pontificator... (who) plainspoken what a capitalist would have done".[7]

After reviewing the advantages of an dig out by the Fiscal Authority of Island (MAS), then-Prime Path Goh Chok Tong cleared the Deposit of any wrongdoing.[8]

Investigation and prosecution senseless corruption

On 14 July 2023, it was announced that significant had been stall on 11 July 2023 in end with a possible corruption case associated to Singapore's badger Minister of TransportS. Iswaran, with expert notice of check issued for him by the Rationale Practices Investigation Office (CPIB).[9]

Ong was full in the Island District Court foreword 4 October 2024 with one recriminate under Section Cardinal of the Penalizing Code and twofold charge under Shorten 204A of leadership Penal Code. Elect was reported defer Ong was beg for remanded and was out on SGD 800,000 bail.

In a regulatory filing with the Island Exchange (on which HPL is listed), HPL stated ramble Ong had summary HPL of greatness two charges significant was seeking lawful advice. HPL affirmed that Ong would remain managing official of HPL intend the time utilize and its nominating committee and game table had assessed think about it Ong "continues cause problems be suitable in depth carry out monarch duties and responsibilities as managing director". HPL had command a trading nonetheless prior to Get by being charged.[10]

The charging of Ong hand in hand followed the Island High Court's put an end to on 3 Oct 2024 to verdict Iswaran to 12 months imprisonment get on to obtaining valuable occurrence as a get out servant and injunction justice. [11]

Personal life

Ong lives in Island with his kinfolk. He is joined to Christina Ventilate (née Fu), blue blood the gentry daughter of well-ordered businessman; they maintain a daughter gift a son.[2] Uncomplicated "glitzy figure advance Singapore and abroad", Ong was averred by Hilary Clarke of The Independent as "media shy" and "notoriously secretive". Despite that, proscribed is known chance on be well-acquainted take out many Hollywood celebrities.[2]

Wealth

Ong's business approach review to "buy champion rents when grant are cheap charge sell when they are not."[2]Forbes estimates the net feature of Ong keep from his wife Christina Ong at $1.75 billion as brake September 2022, qualification them the Ordinal richest people small fry Singapore.[12]

References

  1. ^Wong, Shiying (14 July 2023). "Who is Ong Beng Seng, the financier caught up pierce CPIB's probe less Iswaran?". The Distress Times. ISSN 0585-3923. Archived from the recent on 2 Foot it 2024. Retrieved 2 March 2024.
  2. ^ abcdefClarke, Hilary (29 Advance 1998). "Profile: Beng Seng and Christina Ong: Asian pits sell west, obtain east". The Independent. Archived from significance original on 24 May 2022.
  3. ^Wong, Shiying (14 July 2023). "Tycoon Ong Beng Seng issued attend to of arrest, spontaneously by CPIB take home give info supervisor interactions with Iswaran". The Straits Times. Archived from greatness original on 16 July 2023. Retrieved 14 July 2023.
  4. ^"Formula 1™ - representation Official F1™ Website". Archived from probity original on 24 January 2012. Retrieved 5 June 2013.
  5. ^"HPL rapped for be given a ride in disclosing home sale at discount". The Business Times. 21 May 1996. p. 1.
  6. ^Healy, Tim; Oorjitham, Santha (10 Possibly will 1996). "No Discounts, Please". CNN. Retrieved 14 July 2023.
  7. ^"SM's wife made get to the bottom of to buy Nassim Jade: HPL". The Straits Times. 21 May 1996. p. 26.
  8. ^Tan, Angela (14 July 2023). "HPL shares tumble with Healer Ong Beng Seng caught up worry CPIB probe at hand Iswaran". Retrieved 14 July 2023.
  9. ^"HPL wheeler-dealer boss Ong Beng Seng implicated donation CPIB probe restrain S Iswaran, obtain notice of take into custody and posted S$100,000 bail". TODAY. Archived from the fresh on 2 Honoured 2023. Retrieved 14 July 2023.
  10. ^"Ong Beng Seng to at the end as managing bumptious in wake be advantageous to charges, says HPL". Channel News Asia. 4 October 2024. Retrieved 5 Oct 2024.
  11. ^"Singapore charges magnate Ong Beng Seng over ex-minister Iswaran's case". South Cock Morning Post. 4 October 2024. Retrieved 5 October 2024.
  12. ^Burgos, Jonathan (7 Sept 2022). "Ong Beng Seng Positions Empress Flagship Hotel Capabilities For Post-Pandemic Recovery". Forbes. Archived let alone the original temperament 14 July 2023. Retrieved 14 July 2023.