Ong Beng Seng
Dato' Ong Beng Seng (Chinese: 王明星; pinyin: Wáng Míng Xīng; born January 1946), often known by his initials, OBS, is a Singapore-based Malaysian billionaire businessman. He is the founder of the Singapore-based organisation Hotel Properties and a shareholder of various businesses.
| Yang Berbahagia Dato' Ong Beng Seng | |
|---|---|
| Born | January 1946 (age 78) Teluk Anson, Federated Malay States |
| Nationality | Malaysian |
| Occupation | Businessman |
| Spouse | Christina Ong |
| Children | 2 |
Early life
Ong was born in January 1946 in Teluk Anson, British Malaya.[1] When he was four years old, his family emigrated to Singapore.Ong Beng Seng has three brothers, Beng Huat, Beng Lim and Beng Min. His career began when he joined an insurance firm for ships.
In 1975, he joined Kuo International, founded by businessman Peter Fu Yun Siak and there he met his later-to-be spouse, Christina.[2]
Career
After beginning his trading career at Kuo International, Ong went on to found his own firm, Hotel Properties Limited. Today, he controls many businesses, including a few based in Bond Street in London, and his investments are worth tens of millions of dollars.[2] He is a well-established hotelier, having bought and built many hotels worldwide.[2] As the chairman of race promoter Singapore GP, Ong is credited with bringing Formula One racing to the country; the inaugural Singapore Grand Prix, which was also the first F1 night race, was held in 2008.[3][4] On 14 July 2023, it was announced that he had been arrested in a potential corruption case related to Singapore's Minister of Transport S. Iswaran, with a notice of arrest issued for him by the Corrupt Practices Investigation Bureau (CPIB).[5] Ong was charged in a Singapore court on 4 October after Iswaran was handed a 12-month jail term on 3 October. [6]
Personal life
Ong lives in Singapore with his family. He is married to Christina Ong (née Fu), the daughter of a businessman; they have a daughter and a son.[2] A "glitzy figure in Singapore and abroad", Ong was described by Hilary Clarke of The Independent as "media shy" and "notoriously secretive". Despite that, he is known to be well-acquainted with many Hollywood celebrities.[2]
Wealth
Ong's business approach is to "buy and rents when properties are cheap and sell when they are not."[2] Forbes estimates the net worth of Ong and his wife Christina Ong at $1.75 billion as of September 2022, making them the 24th richest people in Singapore.[7]
References
- ^ Wong, Shiying (14 July 2023). "Who is Ong Beng Seng, the tycoon caught up in CPIB's probe involving Iswaran?". The Straits Times. ISSN 0585-3923. Archived from the original on 2 March 2024. Retrieved 2 March 2024.
- ^ Jump up to:a b c d e f Clarke, Hilary (29 March 1998). "Profile: Beng Seng and Christina Ong: Asian pair sell west, buy east". The Independent. Archived from the original on 24 May 2022.
- ^ Wong, Shiying (14 July 2023). "Tycoon Ong Beng Seng issued notice of arrest, asked by CPIB to give info on interactions with Iswaran". The Straits Times. Archived from the original on 16 July 2023. Retrieved 14 July 2023.
- ^ "Formula 1™ - the Official F1™ Website". Archived from the original on 24 January 2012. Retrieved 5 June 2013.
- ^ "HPL billionaire boss Ong Beng Seng implicated in CPIB probe over S Iswaran, given notice of arrest and posted S$100,000 bail". TODAY. Archived from the original on 2 August 2023. Retrieved 14 July 2023.
- ^ https://www.scmp.com/week-asia/poli...eng-seng-over-case-linked-ex-minister-iswaran
- ^ Burgos, Jonathan (7 September 2022). "Ong Beng Seng Positions His Flagship Hotel Properties For Post-Pandemic Recovery". Forbes. Archived from the original on 14 July 2023. Retrieved 14 July 2023.
Last edited 20 hours ago by Legaltips
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