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Ong Beng Seng attends F1 S’pore Grand Prix amidst CPIB probe, reportedly shook hands with DPM Wong

Amidst a corruption probe implicating Singapore Grand Prix chairman Ong Beng Seng and Transport Minister S. Iswaran, Ong was seen in the F1 Singapore Grand Prix paddock.

State media noted his trackside handshake with Deputy Prime Minister Lawrence Wong during the drivers’ parade.

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1 year ago

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SINGAPORE: Despite an ongoing investigation into allegations of corruption involving Singapore Grand Prix chairman Ong Beng Seng and Transport Minister S. Iswaran, Ong was observed in the paddock during the F1 Singapore Grand Prix last weekend.

The 79-year-old appeared radiant, as evidenced by photos taken on Saturday, (16 Sept), where he was seen alongside Moko, one of the designers affiliated with the fashion and jewellery brand Chrome Hearts.

Dressed in a light blue shirt adorned with a striped pocket, Ong seamlessly mingled with the high-society crowd, engaging in conversations with attendees and embarking on a tour of the paddock.

Moko seemed to relish Ong’s company, going so far as to throw an arm around his shoulders.

Additionally, a Facebook post from Singapore’s state media outlet, The Straits Times, shared photos of Mr Ong interacting with guests on Saturday.

The ST also reported that Mr Ong was seen mingling with paddock attendees over the weekend, and on Sunday, he made an appearance on the track just before the drivers’ parade, where he shook hands with Deputy Prime Minister Lawrence Wong.

Arrests of Transport Minister and Billionaire Ong Beng Seng spark intrigue in ongoing CPIB investigation

On 14 July, the Corrupt Practices Investigation Bureau (CPIB) disclosed that both Transport Minister S. Iswaran and prominent billionaire businessman Ong Beng Seng were arrested on 11 July.

Both Mr Ong and Iswaran were subsequently released on bail, with Iswaran’s passport confiscated. The bail amount for Iswaran was not disclosed, but it was known that Ong was granted bail of $100,000.

They are currently cooperating with the authorities in connection with a case that the CPIB had discovered. However, specific details regarding the nature of the probe were not provided by the CPIB.

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.

In addition, he owns 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.

While Singaporeans await further information from the CPIB regarding Minister Iswaran’s arrest, reports by the online media outlet Asia Sentinel suggest that the origins of this affair could be linked to the London trial for fraud involving Bernie Ecclestone, former Formula One CEO.

On 2 August, DPM and Finance Minister Mr Lawrence Wong, noted that the Monetary Authority of Singapore (MAS), Singapore Police Force, and Attorney General’s Chambers “have worked closely with UK authorities on their investigation and prosecution” of Ecclestone.

He clarified, “Singapore proactively shared relevant information with our UK counterparts, which helped them develop their case.”

Addressing the bank inspection, Mr. Wong said, “In 2017, MAS conducted an inspection of the bank cited in recent media reports to assess its controls for mitigating money laundering and terrorist financing risks. During the inspection, MAS specifically reviewed the bank’s handling of its relationship with Mr Ecclestone.”

He elaborated on the findings, stating, “While MAS found that there was room for improvement in the bank’s anti-money laundering processes, it did not find gaps or weaknesses that were systemic in nature. ”

“MAS also noted that when adverse news about Mr Ecclestone first surfaced in 2013, the bank promptly subjected the account to enhanced monitoring controls by requiring all transactions to be flagged for scrutiny and approval.”

As for the future, Mr Wong promised, “MAS will continue to work with financial institutions to ensure that our financial sector’s defenses against financial crime remain robust.”

Mr Wong was responding to Parliamentary questions (PQ) filed by Chua Kheng Wee and He Ting Ru, both Members of Parliament for Seng Kang GRC from the Workers’ Party.

Chua questioned whether the MAS was satisfied with the anti-money laundering measures at the bank where Ecclestone’s funds are allegedly held; while Ms He asked if the Singapore Government had received any requests from UK law enforcement agencies regarding the Ecclestone case, and, if so, what the nature of the provided assistance was.

The case revolves around Ecclestone being accused of acting “dishonestly” and intending to gain by providing misleading information about his assets to the UK government’s HMRC officers.

The charges stem from an allegation that Ecclestone failed to declare a substantial trust fund held in Singapore, a claim Ecclestone has consistently denied.

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Crime

Singaporean fugitive deported from Thailand, to be charged with drug trafficking

A Singaporean fugitive arrested in Thailand, was deported to Singapore on 19 September 2024 and faces drug trafficking charges. Authorities expect him to face the death penalty under Singapore’s tough drug laws for running a smuggling operation between Thailand, Australia, and Singapore.

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14 hours ago

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19 September 2024

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A 31-year-old Singaporean man, wanted for drug trafficking offences, was arrested in Thailand and deported to Singapore on 19 September 2024.

The fugitive, identified as Benny Kee Soon Chuan, was apprehended by Thai police at his residence near Bangkok’s Suvarnabhumi Airport and will face charges in court on 20 September.

Kee, described as a high-level trafficker, ran a smuggling operation that trafficked crystal methamphetamine, ketamine, and Ecstasy to Australia and Singapore using Thailand as a transit hub, according to Pol Lt Gen Panurat Lakboon, secretary-general of Thailand’s Office of the Narcotics Control Board (ONCB).

Cross-Border Investigation and Arrest

The Central Narcotics Bureau (CNB) of Singapore had issued an arrest warrant for Kee following investigations into two drug trafficking cases in December 2020 and November 2022.

He had been on the run since 11 April 2016, prompting CNB to collaborate with its international counterparts, including the ONCB. Thai authorities were tipped off by CNB on 12 August 2024, and after weeks of investigation, Kee was apprehended on 17 September.

Thai immigration officials revealed that Kee had entered Thailand earlier in 2024 using a Vanuatu passport.

Following his arrest, Kee’s Thai visa was cancelled, and assets worth 15 million baht (S$585,000), including luxury watches, gold pieces, and a luxury car, were seized during a raid on his residence in Samut Prakan.

Lt Gen Panurat confirmed that the fugitive had been living an affluent lifestyle in Thailand despite lacking legitimate employment.

Links to Broader Drug Network

Kee is believed to be linked to other Singaporean traffickers involved in the smuggling of drugs from Thailand.

In March 2021, Thailand’s Anti-Trafficking in Persons Task Force (AITF) intercepted packages containing Ecstasy and ketamine destined for Singapore, as well as crystal methamphetamine bound for Australia.

Two other Singaporean men, aged 21 and 29 at the time of their arrests, were later sentenced to imprisonment and caning in Singapore for their involvement in these operations, which were connected to Kee’s trafficking network.

Death Penalty Under Singaporean Law

Kee’s deportation to Singapore brings him under the jurisdiction of Singapore’s severe drug laws, which prescribe the death penalty for those convicted of trafficking substantial amounts of controlled substances.

Singaporean authorities have indicated that he could face the death penalty under the country’s strict drug trafficking laws. Pol Lt Gen Panurat indicated that Singaporean authorities are expected to seek the maximum penalty for Kee’s alleged offences.

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Arts & Culture

Epigram Books to close SAM bookshop amid low sales and footfall

Epigram Books will shut down its bookshop at the Singapore Art Museum on 26 January 2025, citing low sales and foot traffic. The independent bookstore, known for supporting local authors, will continue to operate its online store, but its future in brick-and-mortar retail is uncertain.

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14 hours ago

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19 September 2024

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Epigram Books, a major supporter of Singaporean literature, will close its Epigram Coffee Bookshop at the Singapore Art Museum (SAM) on 26 January 2025.

The decision comes after years of struggling with low sales and foot traffic at the Tanjong Pagar Distripark location, marking the end of the bookstore’s three-year lease.

The announcement on 19 September follows Times Bookstores’ closure of its final outlet in Holland Road, highlighting the growing challenges faced by brick-and-mortar bookstores in Singapore.

Edmund Wee, publisher at Epigram Books, expressed disappointment, stating: “We tried everything to make this work. Over the past three years, we’ve often asked ourselves, how many people even knew our bookstore existed here, let alone visited?”

Despite efforts to boost traffic, including operating shuttles to increase accessibility, the bookstore struggled to attract visitors consistently.

Epigram Coffee Bookshop, previously located at the Urban Redevelopment Authority Centre on Maxwell Road and later in a pop-up at Beach Road, relocated to SAM in May 2022 in partnership with Balestier Market Collective.

The 20-seater store featured towering shelves showcasing local and Southeast Asian titles, including books from other independent publishers like Ethos Books and Math Paper Press.

However, the location’s industrial setting, which only saw spikes in visitors during major exhibitions like Olafur Eliasson’s, limited consistent footfall.

The closure coincides with the end of Eliasson’s exhibit on 22 September 2024. Although the exhibition provided a temporary boost to the bookshop’s sales, Epigram noted that the increased traffic was short-lived.

Epigram’s future in physical retail remains uncertain. Mr Wee indicated that high rental costs make reopening a physical store unlikely: “Unless rent prices relent, it’s unlikely we’ll move into another space.”

Epigram Books has been a significant presence in Singapore’s independent book scene, promoting local authors and holding literary events.

The bookshop was also a community hub for the literary arts, hosting numerous book launches and events supporting local writers. “These spaces are special to our literary arts community. They’re where book lovers gather, where literary events and book launches happen in support of our writers,” said Mr Wee.

Despite the closure of the SAM store, Epigram will continue to operate its online store. The publisher emphasized the need for continued support from readers: “We’ve come this far with everyone’s support, and we look forward to continued support from our readers as we transition to focus on online sales.”

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