A Singapore court has charged property billionaire and Singapore Grand Prix promoter Ong Beng Seng with obstructing justice and abetting offenses committed by a disgraced ex-minister of the Singapore government.
Ong, the 78-year-old owner of Hotel Properties Ltd and a key figure in Singapore’s business landscape, is deeply connected to the world of Formula 1, being the driving force behind the Singapore Grand Prix.
The Malaysian businessman was instrumental in bringing the prestigious night race to the city-state in 2008, a move that helped elevate Singapore’s status on the global sporting stage.
As the majority owner of Singapore GP Pte Ltd, the company that holds the rights to the race, Ong’s relationship with Formula 1 has been highly profitable and symbolic of Singapore’s emergence as a major hub for international events.
His partnership with the Singapore government and Formula 1 management has solidified his role as a central figure in the Grand Prix’s success.
In the ongoing graft case, Ong is accused of giving high-value gifts to former transport minister S. Iswaran, who last week became the first former cabinet member to be jailed in Singapore.
Singapore GP promoter and property tycoon Ong Beng Seng.
The case has captivated the nation, a wealthy financial hub known for its clean governance and strict anti-corruption policies. Ministers in Singapore are offered salaries exceeding S$1 million ($771,247) as a deterrent to graft, which makes this scandal particularly striking.
Iswaran was sentenced to 12 months in prison for obstructing justice and improperly receiving gifts as a public servant, with Ong playing a central role in the prosecution’s case.
During the trial, prosecutors revealed that Iswaran had accepted gifts worth more than $300,000, including tickets to English Premier League soccer matches and to the F1 Grand Prix, and luxury experiences such as private jet rides.
Ong has yet to comment on the accusations and has not indicated how he will plead. Channel NewsAsia reported that he entered no plea last Friday when appearing in court.
It’s unclear how Ong’s legal troubles might impact the future of Formula 1’s race at Marina Bay, if at all.
Singapore GP Pte Ltd holds the rights to the event until 2028, having signed an extension to its contract with Formula One Management in 2022.
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