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Singapore reassesses Formula One Grand Prix deal amidst corruption charges against former minister

Posted : 05 February 2024

The Singapore government is reevaluating the terms of its Formula One Grand Prix deal following the corruption charges against former transport minister S. Iswaran. Iswaran, who resigned in January after being charged with 27 offenses, is involved in a rare top-level graft probe in Singapore.


Billionaire hotel tycoon Ong Beng Seng, linked to bringing F1's first night race to Singapore in 2008, is also implicated. Minister-in-charge of Trade Relations Grace Fu assured that while there's no current indication of disadvantageous contract structures, a review is underway given the corruption allegations. The Singapore Tourism Board will audit the 2022 race.


Grace Fu informed parliament on Monday about the government's commitment to reviewing the F1 deal in light of the corruption case involving S. Iswaran. The Singapore Tourism Board, which signed the race organization contract with promoter Ong's Singapore GP, will conduct an audit of the 2022 edition.


Despite the review, preparations for the 2024 race have commenced, and Fu emphasized the commitment to the F1 Singapore Grand Prix. The corruption allegations against Iswaran include accepting tickets from Ong for high-profile sporting events and stage shows, contributing to a high-profile investigation in Singapore, known for its low corruption levels globally.


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