HOTELIER Ong Beng Seng's motor company Komoco has clinched the Ferrari franchise, ending months of speculation about who will represent the Prancing Horse in Singapore.

Komoco, which currently sells Hyundai and Chrysler cars, will take over from Hong Seh Motors. The latter, owned by businessman Alfred Tan and son Edward, has held the Ferrari franchise for 25 years.

The Straits Times understands that Ferrari, of Italy, informed Komoco as well as the other contender Premium Automobiles - which sells Audis - of its decision on Monday afternoon.

Read the full report in Tuesday's edition of The Straits Times.