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Billionaire courted Singapore’s political elite. It backfired

Yoojung Lee and Low De Wei
Yoojung Lee and Low De Wei • 5 min read
Billionaire courted Singapore’s political elite. It backfired
Ong Beng Seng. Photo: Bloomberg
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Ong Beng Seng has a penchant for schmoozing with the elite. That has led him to business partnerships with actor Sylvester Stallone and Saudi Prince Alwaleed bin Talal. At the same time, 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 centre 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 levelled 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 and tickets to Premier League football games and musicals in London. Ong, arrested in July for questioning and then released on bail, has not been charged.

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