Last month, after former Transport Minister S. Iswaran was accused of corruption, the Singapore government announced that it would review the terms of its F1 Grand Prix contract with a company linked to hotel tycoon Ong Bengtsen, after a ruling party lawmaker told parliament. mentioned in.
The Singapore Tourism Board first signed a deal with Singapore Grand Prix (a company run by Hotel Properties managing director Mr Ong) to host an F1 night race in the city-state in 2007, and has since signed three more times. was renewed and became the current contract. Trade Relations Minister Grace Fu told MPs on Monday that all agreements had been carefully reviewed by the Department of Trade and Industry.
“At this point, there is nothing to suggest that the F1 contract or any other contract was structured to disadvantage the government,” Fu said. “However, in light of the corruption allegations, we are reviewing the contract again.”
Fu added that the STB has been asked to conduct an audit of the 2022 race and is ready for an audit. Mr. Ong declined to comment through his agent.
Despite the government’s review of the F1 contract, Foo said Singapore remains committed to hosting night races and preparations for the 2024 F1 Grand Prix are underway.
Last month, Mr Iswaran, 61, resigned after being indicted on corruption charges in Singapore’s biggest political scandal in decades. The former minister, who is currently out on bail, has been charged with 27 charges, including allegedly accepting tickets to musicals and soccer matches in the UK, but he denies the charges and vows to prove his innocence in court. I swear.
Mr Hu said he did not know whether the government was considering other contracts that Mr Ong and his company may have with the government. Ong and Iswaran were arrested in July, but no formal charges have been brought against the businessman and he has been granted bail.
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