Singapore’s Transport Minister S. Iswaran announces his resignation after facing 27 charges related to his interactions with Ben Sen, who owns the rights to the Singapore Grand Prix and is chairman of the organizing company. I just did it.
The matter relates to alleged kickbacks that Singapore’s Corrupt Practices Investigation Bureau (CPIB) believes Iswaran may have received from property tycoon Ben Sen.
The money is said to include tickets on Ong’s private plane and tickets to the Singapore Grand Prix, where Iswaran was an advisor.
Iswaran issued a statement denying the charges against him and expressing his determination to clear his name. Mr. Bensen has not been charged with any wrongdoing.
The case has attracted a lot of attention in the region, as Singapore is a country that prides itself on having low levels of corruption.
Furthermore, with Bensen being a key figure in the Singapore Grand Prix, it will be interesting to see if this will affect the future of F1 racing, where he is currently contracted until 2028.
But in a move that played down any suggestion of a change in fortunes, Singapore’s Ministry of Trade and Industry said on Thursday that the government had not put its own interests first and that the racial agreement was not pursued. He said he was satisfied with the results.
Photo credit: Zak Mauger / Motorsport Images
Carlos Sainz, Ferrari SF-23, George Russell, Mercedes F1 W14, Charles Leclerc, Ferrari SF-23, Lando Norris, McLaren MCL60, Lewis Hamilton, Mercedes F1 W14, rest of the field away at the start
“The government has carefully considered the terms of all agreements,” he said. “There was an investigation by an independent consultant.
“At this time there is nothing to suggest that the F1 contract or any other contract was structured to disadvantage the government.
“All preparations for the 2024 F1 Singapore Grand Prix scheduled for September 20-22, 2024 are progressing smoothly.”
The ministry added that the benefits of hosting the Singapore Grand Prix were clear, attracting more than 550,000 international tourists and generating about S$2 billion ($1.5 billion) in tourism revenue.
“The F1 Singapore Grand Prix also reinforced Singapore’s reputation as a vibrant global Asia nexus,” it added.
“Beyond the tourism sector, the race also benefited many Singaporean companies involved in various aspects of the race, including logistics, transport, construction and engineering services.”