Impact of Arrest of Managing Director of Hotel Properties Ltd on Running of F1 Singapore Grand Prix 2023

12 Mr Edward Chia Bing Hui asked the Minister for Trade and Industry (a) whether the Corrupt Practices Investigation Bureau (CPIB)’s arrest of the Managing Director of Hotel Properties Limited, who is also the owner of the rights to the Singapore Grand Prix, will have any material impact on the running of the F1 Singapore Grand Prix 2023 night race; and (b) whether the Ministry will be conducting an independent review of all past F1 Singapore Grand Prix races in relation to its funding quantum and claims.

13 Mr Sharael Taha asked the Minister for Trade and Industry whether the CPIB investigation into the owner of the rights to the Singapore Grand Prix will have any impact on the renewed seven-year contract extension for Singapore to host the Singapore Grand Prix till 2028.

Mr Gan Kim Yong: Preparations for the 2023 Singapore Grand Prix are at an advanced stage and the race will continue as planned. The Government is working with all partners involved to ensure the success of the race.

Since the inception of the Singapore Grand Prix, the Singapore Tourism Board has undertaken audits which covered contract compliance, procurement procedures and grant administration.

We are unable to comment on any CPIB investigations that are ongoing.