KUALA LUMPUR – The Singapore Tourism Board (STB) is conducting an audit into the multi-million dollar 2022 edition of the Formula One Singapore Grand Prix (GP), after former transport minister S. Iswaran was slapped with 27 counts of corruption and abuse of power.
In addition, the Ministry of Trade and Industry (MTI) is reviewing the deal between STB and promoter Singapore GP to organise the F1 night race, Minister-in-charge of Trade Relations Grace Fu told Parliament today.
“Given the allegations of corruption, we are reviewing the terms of the (F1) deal again. There is nothing to suggest, as of now, that either the F1 contracts or other contracts were structured to the disadvantage of the government.
“Whilst we will review any government contracts to safeguard Singapore’s interest, we remain committed to the F1 Singapore Grand Prix. Preparations for the 2024 race have started.”
Fu was grilled on the F1 contracts, with MPs asking if STB is looking into the relationship between Iswaran and Singapore GP chair and hotel tycoon Ong Beng Seng, as well as due diligence and reporting processes.
Ong was once credited with helping to bring F1’s first night race to Singapore in 2008.
The F1 contract was first signed in 2007, and was renewed in 2012, 2017 and 2022. The current contract ends in 2028.
In January, Iswaran, 61, was hauled to court, where he pleaded not guilty to 24 counts of receiving bribes as a civil servant, one count of obstructing justice and two counts of corruption.
Iswaran was accused of receiving SG$384,000 (RM996,498) in valuables from Ong, ranging from tickets to shows, English Premier League football matches and various editions of F1’s Singapore GPx between 2015 to 2022.
The charge sheet also read that Iswaran had received an all-paid-for trip to Doha, Qatar in exchange for advancing Ong’s business interests.
The 61-year-old allegedly received tickets to 12 plays or musicals in the United Kingdom between 2015 and 2021, namely Thriller; The Curious Incident of the Dog in the Night-Time; Book of Mormon; Harry Potter and the Cursed Child: Part 1; Harry Potter and the Cursed Child: Part 2; Kinky Boots; The Play That Goes Wrong; School of Rock; Hamilton; Waitress; Betrayal; Back to the Future and & Juliet.
The total value of these tickets is said to be SG$10,693.
He also allegedly received tickets worth SG$5,646 to attend EPL league matches between 2015 and 2018.
Iswaran, who also served in his capacity as the Singapore GP’s steering committee chairman, allegedly received Green Room tickets, Boardwalk tickets, Twenty3 tickets and general admission tickets to the different editions of the grand prix between 2016 and 2022 worth SG$347,152 in total.
The Corrupt Practices Investigation Bureau has been investigating Iswaran and Ong since July of last year. At that time, Prime Minister Lee Hsien Loong barred the minister from leaving the country and placed him on a leave of absence.
Iswaran, who is also trade relations’ minister-in-charge had joined the cabinet as Lee’s junior minister in 2006, where he held trade and communications portfolios before becoming transport minister in May 2021. – February 5, 2024