Lee’s office did not provide comment Friday regarding Ong’s arrest or more information about who else may be called to help with the case. Iswaran was “assisting CPIB” with the investigation, Lee said in a Wednesday statement. The news about Ong emerged just days after Prime Minister Lee Hsien Loong said he had asked the transport minister to take a leave of absence. Ong is also the sole shareholder of the Singapore Grand Prix, organizer of the marquee sporting event, his spokesperson confirmed to CNN.

The company owns the Four Seasons hotels in the Maldives and Malaysia, among other luxury properties in Singapore, London and Bangkok. Shares in Hotel Properties closed 2.6% in Singapore Friday following the news. The businessman “is cooperating fully with CPIB and has provided the information requested,” the company added. He is required to report to the agency upon return, it added. The CPIB said the property tycoon had asked for permission to travel, a request the agency granted after increasing his required payment for bail. Ong was expected to be traveling from Friday and will give up his passport upon returning to Singapore, his firm said, without sharing more details. No charges have been filed against him, it said. Ong’s company said he had posted bail of 100,000 Singapore dollars ($76,000) after being given a notice of arrest. The agency launched an investigation into a case involving the transport minister on Tuesday, in a rare corruption probe involving a cabinet-level official. Ong was asked by the agency to provide information about his interactions with Iswaran, his company said in a Friday filing to the stock exchange. Iswaran, according to the country’s anti-corruption agency, the Corrupt Practices Investigation Bureau (CPIB).īoth men were later released on bail, the bureau told CNN late Friday. Ong, managing director of Hotel Properties Limited, was arrested last Tuesday, along with Minister of Transport S. A corruption investigation in Singapore has expanded to include Ong Beng Seng, a hotel tycoon best known for bringing the Formula 1 Grand Prix to the wealthy city state.

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