SINGAPORE, Nov. 10 -- Singapore's Immigration andCheckpoints Authority (ICA) has decided not to revoke billionaire Ong Beng Seng's permanent resident (PR) status, opting instead to issue a formal warning following his conviction earlier this year, The Straits Times reported.

"Instead, he has been issued a Letter of Warning to put him on notice that any future adverse conduct will render him liable for revocation of his PR status," the ICA said today in response to the paper's queries.

The move follows the 78-year-old property tycoon's S$30,000 (RM96,000) fine in August after pleading guilty to a charge of abetting the obstruction of justice in a corruption case linked to former transport minister S. Iswaran.

Ong, who holds Malaysian ci...