JANUARY 19, 2024

Singapore GP set to survive corruption scandal

Singapore's Formula 1 event appears set to survive a corruption scandal that last year engulfed the promoter of the popular night race and a high-ranking government minister.

Last year, we reported that promoter and billionaire Ong Beng Seng had been implicated in a scandal that has now led to almost 30 corruption charges levied against minister S. Iswaran.

BNN Breaking said Iswaran is accused of receiving kickbacks from Ong, including tickets to Formula 1's original night race in the small city-state.

Suspicions are that specific instances in September and December 2022 were likely inducements related to a contract between the Singapore GP and the Singapore Tourism Board, the report added.

But Singapore's trade and industry ministry has now found in an independent study that there were no unfavourable terms to the government.

BNN Breaking continued: The (Ministry of Trade and Industry)'s defense of the F1 contracts underscores the event's significance, but the final verdict in Iswaran's case will indeed have a lasting imprint on the country's political and sporting arenas.

Gutzy Asia, meanwhile, published a government statement confirming: There is nothing to suggest as of now that either the F1 contracts or other contracts were structured to the disadvantage of the government.
(GMM)