F1 Singapore Grand Prix to go ahead despite CPIB probe

The Formula 1 Singapore Grand Prix that is set to take place from 15 September to 17 September will reportedly go ahead as planned despite the ongoing Corrupt Practices Investigation Bureau (CPIB) probe that involves Singapore GP chairman Ong Beng Seng and transport minister S Iswaran, according to second minister for trade and industry Tan See Leng. Tan was speaking to media following screening of the Italian Grand Prix at HDB Hub in Toa Payoh.

Tan told reporters that the show will go on and that things are moving at "full speed", according to CNA. He added that they will not hold back other events as well. 

He added that ticket sales so far have been "promising" and that it will be an "exciting event" moving forward. According to organisers, 16 out its 23 categories are currently sold out. Of the remaining categories, five have very limited availability as of 29 August.

"Based on current inventory, the Marina Bay Street Circuit is expected to host approximately 250,000 spectators," organisers said in a release. "The reduced capacity – some 17% lower than last year’s record-breaking attendance of 302,000 – is due to the closure of the Bay Grandstand as part of the redevelopment of The Float at Marina Bay."

"We were able to overcome the challenges and recoup 10,000 tickets with several exciting new options for our fans. We are delighted to have such a fantastic response to the six new grandstands introduced earlier this year and look forward to build on this momentum for a fantastic race weekend this September,” it added. 

Don't miss: Hotel Properties shares plummet after Ong Beng Seng arrested in relation to Iswaran CPIB probe

Tan explained that despite the slight drop in attendance this year, there will be many activities and entertainment acts lined up to make up for it. 

He added that there will also be about 28 Meetings, Incentives, Conventions and Exhibitions (MICE) events that will be held from next weekend till the week after the race.

Tan's comments come after it was revealed that Iswaran will be assisting the CPIB with an investigation into a case uncovered by it, according to CPIB in a statement made in July. 

While the nature of the investigation was not revealed, Prime Minister Lee Hsien Loong released a statement at the time to say that the CPIB briefed him on a case it had uncovered and sought his concurrence to open a formal investigation. PM Lee gave his agreement which meant that Iswaran and others would be interviewed. 

"I have instructed Minister Iswaran to take leave of absence until these investigations are completed. In Minister Iswaran's absence, senior minister of state Chee Hong Tat will be acting minister for transport," said PM Lee in his statement.  

Iswaran was then arrested on July 11 and released on bail, according to CNA. His passport was also impounded. However, CPIB noted that as investigations are ongoing, it is unable to provide further details.

"CPIB will investigate this case thoroughly with strong resolve to establish the facts and the truth, and to uphold the rule of law," it said.

Days after his arrest and subsequent release, Ong Beng Seng, who is the managing director of Hotel Properties (HPL), was arrested and was asked by CPIB to provide information in relation to his interactions with Minister S Iswaran, according to a statement by HPL. 

According to HPL, no charges have been filed against Ong yet. However, in July, he was given a notice of arrest and posted bail of SG$100,000. 

"Mr Ong is cooperating fully with CPIB and has provided the information requested. As this is an ongoing matter, he is unable to provide further details at this point," said HPL at the time. "He has undertaken to provide updates to the Board if there are subsequent material developments."

Iswaran has long been involved with the government's engagements with F1 and has made appearances at press conferences with regards to the event in past years. Ong on the other hand is credited with bringing the night race into Singapore for the first time in 2007 in a deal between Singapore Tourism Board and then-F1 boss Bernie Ecclestone.

Tan however declined to comment on the ongoing CPIB investigations and said that they should wait for authorities to release official information. 

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