A hotel in Singapore. Photo courtesy of the hotel
Property magnate Ong Beng Seng will step down as managing director of Hotel Properties Limited, which has a portfolio of luxury hotels across 17 countries.
Ong, 79, “wishes to devote more time to managing his medical conditions,” according to The Straits Times.
Seng, embroiled in a corruption case linked to former transport minister S. Iswaran, is reportedly fighting bone marrow cancer, Channel News Asia reported in February, citing two individuals close to the billionaire.
He is scheduled to plead guilty next week to charges to the offences of former transport minister S. Iswaran, who was convicted in October for accepting gifts from Ong, Business Times reported.
The Singapore-based Malaysian businessman, along with his wife Christina Ong, owns a range of hotel, fashion, and lifestyle brands.
They are among the wealthiest in Singapore, with a combined net worth of $1.7 billion, according to the list of Singapore’s 50 richest published by Forbes in September last year.
As of December 2024, Hotel Properties has interests in 41 hotels under prestigious hospitality brands such as Four Seasons Hotels & Resorts, COMO Hotels & Resorts, IHG Hotels & Resorts, Six Senses Hotels & Resorts and Marriott International, according to its website.
