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Ong Beng Seng to Step Down as Managing Director of Hotel Properties Limited After 45 Years

Ong Beng Seng steps down as Managing Director of Hotel Properties Limited after 45 years due to health concerns.

Singapore – Hotel Properties Limited (HPL) enters a new era as billionaire founder Ong Beng Seng prepares to step down as managing director at the upcoming annual general meeting on April 29. Ong’s departure closes a 45-year chapter in which he led the company since its inception in 1980 and shaped it into a global luxury hospitality powerhouse.

Ong exits as he faces legal proceedings tied to one of Singapore’s most high-profile political scandals. The 79-year-old Malaysian tycoon plans to plead guilty later this month to a charge of obstructing justice in connection with the corruption case involving former transport minister S. Iswaran. Authorities accuse Ong of giving Iswaran lavish gifts, including flights and hotel stays. A court sentenced the former minister in October 2024 to one year in jail.

In a filing to the Singapore Exchange, HPL stated that Ong “wishes to devote more time to manage his medical conditions,” aligning with reports that he is battling multiple myeloma, a type of blood cancer. Bloomberg reported that the court granted Ong more time to enter his plea as he sought additional medical reports.

Ong continues to control a majority stake in HPL, holding about 60% of the company with his wife, Christina Ong. The company maintains a portfolio of 41 hotels across 17 countries, partnering with luxury brands such as Four Seasons, COMO Hotels & Resorts, and Marriott International.

HPL has not yet named a successor, but executive directors Christopher Lim and Stephen Lau will continue managing the company. Investors reacted positively to the announcement, sending HPL’s shares up, a signal of cautious confidence in the firm’s stability beyond Ong’s leadership.

Although Ong steps back from daily operations, he retains a significant role in shaping Singapore’s hospitality and business landscape.

Feature Image Via: Reuters

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Maldives Tourism Highlights: Key Updates from the First Week of April

Maldives Tourism Highlights: Key Updates from the First Week of April

The first week of April has been a remarkable one for the Maldives’ tourism sector, with several key developments underscoring the country’s growing influence on the global stage. The Ministry of Tourism and Environment has spearheaded several initiatives that highlight its unwavering commitment to sustainable tourism, international collaboration, and enhancing the nation’s tourism appeal. From launching a high-profile campaign with Liverpool Football Club to taking decisive steps toward a greener future, this week marks a pivotal moment for the Maldives’ tourism industry.

Tourism Promotion with Liverpool FC: A Landmark Partnership

One of the standout moments this week was, without a doubt, the official launch of the Maldives’ tourism promotion campaign in partnership with Liverpool Football Club (LFC). President Dr. Mohamed Muizzu, joined by Minister of Tourism and Environment Thoriq Ibrahim, attended the Merseyside Derby between Liverpool FC and Everton, marking the global debut of this exciting collaboration. The Maldives Marketing & Public Relations Corporation (MMPRC) has, in fact, worked alongside LFC to run a co-branded tourism campaign across the UK, aiming to attract high-value travelers to the Maldives. Specifically, the campaign includes extensive outdoor and digital advertisements in prime locations like the London Underground, airports, and major billboards across Europe, promising the Maldives significant exposure in international markets.

Advancing Climate Action: Maldives Sets Example with Transparency and Sustainability

In line with its commitment to environmental sustainability, the Maldives also focused on climate action this week. Notably, the Ministry of Tourism and Environment is currently undergoing a technical expert review of the nation’s first Biennial Transparency Report (BTR), submitted as part of the Paris Agreement’s Enhanced Transparency Framework. This review will, in turn, assess the country’s efforts in managing greenhouse gas emissions and climate change impacts. Ultimately, this review process demonstrates the Maldives’ dedication to global climate action, reinforcing the country’s reputation as a leader in sustainable tourism and environmental stewardship.

Renewable Energy Progress: A Step Toward Sustainable Tourism

In a related effort to promote sustainability, the Ministry has signed an agreement to install 38 MWh of Battery Energy Storage Systems across 18 islands. This initiative, backed by the Asian Development Bank (ADB), is a significant step toward increasing the use of solar energy in the Maldives, thereby helping to reduce reliance on costly diesel fuel. Furthermore, this project is expected to not only save millions in fuel costs but also support the Maldives’ broader goals of becoming more environmentally resilient, ultimately further enhancing its appeal as an eco-conscious tourist destination.

Strengthening International Relations and Local Industry Development

Minister Thoriq Ibrahim met with officials from Pakistan to discuss cooperative efforts in waste management, a critical issue for the archipelago’s scattered islands. Additionally, the Minister welcomed Japan’s newly appointed Ambassador, Mrs. Ishigami Rumiko, to discuss climate mitigation, waste management, and energy transition, thus demonstrating the Maldives’ commitment to fostering strong international partnerships.

Moreover, Minister Ibrahim also met with the Maldives Association of HR Professionals to explore opportunities for developing the tourism workforce, ensuring that the Maldives can continue offering exceptional service to visitors. These discussions are, indeed, crucial for strengthening the Maldives’ tourism industry and its global competitiveness.

Looking Ahead

With a continued focus on sustainable tourism, international collaborations, and workforce development, the Maldives is positioning itself for long-term success in the global tourism market. The nation’s commitment to environmental stewardship, alongside initiatives like the partnership with Liverpool FC, will undoubtedly ensure it remains a top destination for travelers worldwide.

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