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PROPERTY tycoon Ong Beng Seng, who faces two criminal charges in relation to dealings with former minister S Iswaran, is receiving treatment for cancer, The Business Times has learnt.

On Feb 7, the court heard that Ong’s lawyers will “review (their) position”. Asked by BT if this meant Ong is considering whether to plead guilty, a representative for the billionaire declined to comment.

Amarjit Singh Sidhu, a litigation lawyer who runs his own law firm, said that this could mean the defence is taking further instructions from Ong and will likely meet the prosecution to finalise their position. “They are studying the case and may be deciding whether Ong will plead guilty or claim trial,” he explained.

Ong, 79, has been diagnosed with multiple myeloma, BT understands. A form of white blood cell cancer, it is characterised by the abnormal expansion of malignant plasma cells in the bone marrow.

The managing director of Hotel Properties Ltd (HPL) is widely known as the man who brought the Formula 1 night race to Singapore in 2008, and owns the rights to the Singapore Grand Prix.