F1: Singapore GP preparations continue despite race boss arrest (Update)

Singapore’s preparations for this year’s Formula One Grand Prix are at an advanced stage and the race will continue as planned, Minister for Trade and Industry Gan Kim Yong said in a written response Thursday.

Gan was responding to a parliamentary question on whether the arrest of Hotel Properties Ltd.’s Managing Director Ong Beng Seng will have any material impact on the Sept. 15-17 race. The businessman’s Singapore GP Pte owns the rights to the event.

Officials have yet to spell out the scope of the ongoing investigation by the country’s anti-graft agency, in which Transport Minister S. Iswaran was also arrested.

Despite the ongoing investigation by the Corrupt Practices Investigation Bureau (CPIB) involving its chairman, Ong Beng Seng, the Singapore GP confirmed last week that planning and preparations for its Formula 1 race were continuing as scheduled.

Singapore GP acknowledged that CPIB’s investigations are ongoing and stated that it is “not at liberty to provide any further information”.

Mr Ong is renowned as the exclusive shareholder of the Singapore GP, serving as the organizer of this annual sporting event which forms part of the Formula One World Championship.

Additionally, he holds ownership of various hotels worldwide. Ong and his wife, businesswoman Cristina Fu, are esteemed members of Singapore’s 25 richest couples.

In 2007, he secured the deal to bring the prestigious Formula One race to Singapore, primarily due to his rapport with former Formula One boss Bernie Ecclestone.

Last year, Singapore GP, backed by Mr Ong and the Singapore Tourism Board, extended the city-state’s contract to host the F1 night race through 2028.

This was the fourth and longest contract renewal, with previous deals ranging between four and five years.