Ong stepped down as HPL's managing director last April, but is still holding on to a total interest of around 60% in the company.
Hotel Properties has sunk into a loss of $46.2 million for its FY2025, after taking into account items such as a higher fair value loss on long-term investments.
In contrast, the company majority-held by tycoon Ong Beng Seng, made a profit of $27.2 million in the preceding FY2024.
