Singapore insists its Grand Prix is not under threat despite ongoing investigation against promoter

Ong Beng Seng is the man who brought the F1 to Singapore in 2008. But the billionaire is targeted by a corruption investigation, just like Subramaniam Iswaran, Singapore’s Minister of Transport. The 62-year-old man resigned from the government of his country on January 16th.

The case involves potential “bribes” that the minister allegedly received from Ben Seng. Iswaran denies all the accusations against him. However, this case does not seem to threaten the Singapore Grand Prix.

All the preparations for the Grand Prix are going as planned.

The Asian country is under contract with F1 until 2028. Gan Kim Yong, Singapore’s Minister of Trade and Industry, has stated that the race in the city-state will not be canceled due to this issue, as was the case in Vietnam.

The terms of all agreements have been carefully examined by the government. There has been an independent consultation study. There is no indication that the Formula 1 contracts or any other contracts have been designed to the detriment of the government. All preparations for the Singapore Grand Prix 2024, which is scheduled to take place from September 20 to 22, 2024, are proceeding as planned, said Gan Kim Yong.

The Singapore Formula 1 Grand Prix has also strengthened Singapore’s reputation as a dynamic hub between Asia and the world. Besides the tourism sector, the race has also helped numerous Singaporean businesses involved in various aspects of the race, such as logistics, transportation, construction, and engineering services, the minister continued.