FEBRUARY 6, 2024

Singapore still reviewing F1 deal amid scandal

A dark cloud continues to hang over the future of Formula 1's original night race in Singapore.

In January, we reported that the event was in fact likely to survive a corruption scandal that in 2023 engulfed the Singapore GP promoter and high-ranking government minister Subramaniam Iswaran - who resigned last month.

Singapore's trade and industry ministry had insisted: There is nothing to suggest as of now that either the F1 contracts or other contracts were structured to the disadvantage of the government.

However, on Monday, Singapore's trade relations minister Grace Fu admitted in parliament that the Formula 1 race contract is in fact still being reviewed.

Members will understand that I cannot say more on this at this point, she said.

Fu's comments came after other parliament members filed several questions about the F1 corruption scandal, but she informed them that she could not answer prior to Iswaran's trial.

But Fu did admit that it will be the trade and industry ministry that would be reviewing the Formula 1 race deal.

It is not appropriate for us to speculate or prejudge the outcome of the proceedings, she insisted. "I will answer in so far as it is possible to do so.

Whilst we will review any government contracts to safeguard Singapore's interest, we remain committed to the Singapore GP, Fu added. Preparations for the 2024 race have started.

(GMM)