PETALING JAYA: A thunderstorm and heavy rain advisory has been issued for most of Malaysia on Saturday (Oct 5).
SINGAPORE : At the centre of Singapore ’s most talked-about political scandal centred on former minister S Iswaran, one other name stands out – Ong Beng Seng , among the richest tycoons in the city state and widely credited for bringing Formula One racing to its shores.
“A super networker, he can smell great business opportunities from miles away,” said the source who spoke on condition of anonymity. Ong is currently out on a S$800,000 bail. In a regulatory filing, HPL, which is owned by the 78-year-old, said that Ong had informed the company on the two charges and that he is seeking legal advice.
The reason given for the trading halt was the pending release of an announcement, according to a Singapore Exchange notice submitted at about 7.45am. The charges under the Prevention of Corruption Act alleged that these gifts were obtained as inducement for advancing Ong's business interests in contracts with the Singapore Tourism Board for Singapore GP and the ABBA Voyage virtual concert.
But Ong’s business practices were placed under the microscope after his ties with Iswaran led to the worst graft scandal in the financial hub for decades. By far, the Malaysian-born tycoon is also known among the Singapore and regional elite for his colourful persona and aggressive dealmaking skills.
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