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Billionaire's mission to court Singapore’s political elite backfired

Bloomberg
Bloomberg • 5 min read
Billionaire's mission to court Singapore’s political elite backfired
Ong Beng Seng helped bring in F1 to Singapore. Photo: Bloomberg
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Ong Beng Seng has a penchant for schmoozing with the elite. That’s led him to business partnerships with actor Sylvester Stallone and Saudi Prince Alwaleed bin Talal, while his decades-long friendship with Formula One supremo Bernie Ecclestone has been credited with bringing the night race to Singapore.

Now Ong’s ways are taking center stage after an investigation that has already toppled one of the most senior politicians in the city-state, which prides itself on a reputation for clean governance and business-friendly policies.

All 27 charges leveled against former Transport Minister S. Iswaran are related to alleged dealings with the Malaysian-born billionaire and his companies. Those include obtaining a flight on Ong’s private plane as well as tickets to Premier League football games and musicals in London. Ong, who was arrested in July for questioning and then released on bail, hasn’t been charged. 

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