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South China Morning Post
05-08-2025
- Business
- South China Morning Post
Singaporean F1 tycoon admits guilt, Indonesians misbehaving in Japan: 7 Asia highlights
We have selected seven stories from the SCMP's coverage of Asia over the past week that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing When Indian pilgrims set foot in Tibet again this summer, their arrival heralded a new beginning for India and China, five years after a deadly Himalayan clash plunged the two bitter rivals into a diplomatic deep freeze. Ong Beng Seng, a Singapore-based billionaire hotelier and architect of the city state's Formula One Grand Prix, pleaded guilty on Monday to abetting former transport minister S. Iswaran in a gifting scandal.
CNN
05-08-2025
- Politics
- CNN
Tycoon who helped bring F1 to Singapore pleads guilty in graft case
AsiaFacebookTweetLink Follow 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 imprisonment. He will be sentenced on Aug 15. A second charge of abetting an offence was also taken into consideration. Judicial mercy gives courts the authority to give a more lenient sentence in exceptional mitigating circumstances, such as a terminal illness or when imprisonment could pose a high risk of endangering a life. The defence submitted that Ong suffers from multiple myeloma, an incurable cancer that affects his blood plasma cells and renders him immuno-compromised. The case has been the subject of major intrigue in Singapore, a wealthy financial hub that offers ministers salaries of more than S$1 million ($775,000) to deter graft and prides itself on its reputation for clean governance. Ong had informed Iswaran that his associates had been questioned and a private flight manifest with Iswaran's name on it for a flight from Singapore to Doha had been seized by the corruption watchdog during investigations. This led Iswaran to ask Ong to issue an invoice through Singapore GP, promoter of the Singapore F1 Grand Prix, to bill him for the trip, which prosecutors say Iswaran knew would make it less likely that he would be investigated. Iswaran was sentenced to 12 months in prison in October 2024, the first time a former cabinet member had ever been jailed in Singapore, on charges of obstructing justice and receiving more than $300,000 worth of gifts. In February, Iswaran was put under house arrest for the remainder of his sentence. Ong gave Iswaran tickets to English Premier League soccer matches, the Singapore Formula 1 Grand Prix, London musicals and a ride on a private jet among other favours. Iswaran was an adviser to the Singapore Grand Prix's steering committee, while Ong, 79, owns the rights to the race. The billionaire stepped down as managing director of Singapore-listed Hotel Properties in April.
Forbes
04-08-2025
- Business
- Forbes
Tycoon Ong Beng Seng Pleads Guilty In Singapore Corruption Case Involving Ex-Minister
Hotel tycoon Ong Beng Seng—who holds the franchise for the Formula One Singapore grand prix—pleaded guilty to obstructing the course of justice in a corruption case that led to the imprisonment of a senior politician for accepting gifts. The former managing director of Singapore-listed Hotel Properties conceded on Monday to abetting former Transport Minister S. Iswaran in obstructing the course of justice, while another charge was taken into consideration. The charges are related to flights, a hotel stay in Doha and Formula One tickets that Iswaran had received from Ong when the ex-lawmaker headed the Singapore Formula One night race steering committee. While Ong, 79, could be jailed for up to seven years and fined, or be given both, for the offences, his lawyer asked the judge for leniency given the tycoon's medical condition. Ong had been diagnosed with multiple myeloma, a rare type of bone marrow cancer. Malaysian-born Ong, who is currently out on bail, is expected to be handed down his sentence on August 15. He stepped down as managing director of Hotel Properties in April. With a combined net worth of $1.7 billion, Ong and his wife Christina are among the wealthiest in Singapore. Their Hotel Properties has a portfolio of assets across 15 countries including the Four Seasons Hotel in Singapore and resorts in the Maldives. The developer said last month it's in talks with potential partners to redevelop three of its adjoining prime properties on Orchard Road, Singapore's main shopping strip.
Daily Mirror
09-07-2025
- Business
- Daily Mirror
Small Asian country that's building port the size of 3,000 football pitches
The Tuas Mega Port in Singapore is one of the most ambitious infrastructure projects in the world and will cost around £10billion once it finally opens in the 2040s A small Asian nation is on track to overtake Shanghai with the world's largest port as it rolls out an ambitious £10billion infrastructure project. Already underway and slated for completion by the 2040s, the new port in Singapore boasts green and smart technology, setting a new global standard. Singapore's Tuas Mega Port, a monumental £10billion project, will eclipse Shanghai's current leading global port upon its completion. Singapore's Maritime and Port Authority (MPA) announced a capacity of handling 65 million twenty-foot equivalent units (TEUs). Covering 1,337 hectares - equivalent to some 3,300 football pitches - and hosting 66 berths over 26 kilometres, it's poised to become the titan of shipping hubs. "Tuas Port, together with Singapore's International Maritime Centre, will form a strong value proposition and ensure Maritime Singapore remains trusted, resilient, and ready for the future," says the MPA. This groundbreaking initiative will unfold in four phases, with phase one culminating in 2021 after six years of construction, while the second phase progresses with additional berths already operational. Following the full swing opening of Tuas Mega Port, Singapore plans to shut down its two older ports, pivoting towards a high-tech future with 1,000 battery-powered driverless vehicles and the same number of automated yard cranes to keep logistics running smoothly, reports the Express. Plans are underway for the port to achieve net zero emissions by 2050, with a shift towards sustainable technologies such as electrified equipment instead of fossil fuel-powered machinery. The ambitious construction of this mega project has included deepening the surrounding seabed to accommodate future expansion. After the first phase was completed, former Transport Minister for Singapore said: "With more ships calling here (as a result of the larger capacity), Singapore will enjoy even stronger maritime connectivity. We can harness network effects to import and export more quickly and at a lower cost. "As a global hub, Tuas Port will bring even more value to companies in our international maritime centre and create more jobs for our people." Despite its modest size, Singapore is a powerhouse in Southeast Asia. The city-state covers an area of 284.1 square miles and boasts a population of nearly 6 million residents. It ranks as the 176th largest country globally, a relatively small nation consisting of a main island and several smaller islets. Yet, it stands as the world's 4th wealthiest country, as per Global Finance. Singapore may be one of the smallest countries, but it has the world's 30th largest economy, surpassing the economic performance of countries like Norway, Denmark, Hong Kong, South Africa, and New Zealand.
Straits Times
06-06-2025
- Straits Times
Ex-transport minister S. Iswaran completes home detention scheme, no longer under prison custody
Former transport minister S. Iswaran was placed on the Home Detention Scheme on Feb 7. ST PHOTO: JASON QUAH SINGAPORE - Former transport minister S. Iswaran has completed his jail term and is no longer under prison custody. The Singapore Prison Service (SPS) said on June 6 that he has completed his emplacement on the Home Detention Scheme. On Oct 3, 2024, he was handed a 12-month jail term in a case that saw, for the first time, a former Cabinet minister being sentenced. He had spent four months in jail since he began his sentence on Oct 7, 2024. He was placed on the Home Detention Scheme on Feb 7, 2025. SPS had previously said that Mr Iswaran was assessed to be suitable for the scheme as he was of low risk of reoffending, did not commit any institutional offence in prison and had strong family support. Inmates who display good conduct in prison are eligible for remission after serving two-thirds of their sentence, or after serving 14 days of their sentence, whichever ends later. In Mr Iswaran's case, this would be eight months of his 12-month term. SPS said prisoners are assessed for their suitability for the scheme by taking into consideration various factors, such as their conduct and their progress and response to rehabilitation, during incarceration. Under the Home Detention Scheme, Mr Iswaran served his remaining sentence at his residence under specified conditions. These included curfew monitoring using an electronic monitoring tag, being occupied in work, study or training, and reporting to SPS for counselling. Mr Iswaran's one-year jail term was almost double the six to seven months' jail the prosecution had sought. His lawyer, Senior Counsel Davinder Singh, had asked for not more than eight weeks' jail. Mr Iswaran pleaded guilty to five charges on Sept 24, 2024, on what was to be the first day of a highly anticipated trial in which he aimed to clear his name. The charges he admitted to comprised four charges of obtaining valuable items as a public servant from Ong Beng Seng, chairman of Formula One race promoter Singapore GP, and Mr David Lum Kok Seng, managing director of construction company Lum Chang Holdings. The fifth charge was for obstructing the course of justice by making payment of $5,700 for a business class flight he had taken from Doha to Singapore in 2022 at Ong's expense. Mr Iswaran made the payment to throw off the Corrupt Practices Investigation Bureau, which found his name in a flight manifest it had seized while investigating Ong's associates. In sentencing Mr Iswaran, Justice Vincent Hoong said the prosecution and defence had asked for 'manifestly inadequate' jail terms. The judge said general deterrence, aimed at setting an example for others who commit offences, was the primary consideration in his sentencing decision. He added that Mr Iswaran, as a minister and chairman of the Formula One steering committee, wielded influence in matters of great public interest, even if there was no evidence the gifts had influenced decisions over Formula One or its contracts. Join ST's WhatsApp Channel and get the latest news and must-reads.
