15-7-2023 (SINGAPORE) S Iswaran, Singapore’s Transport Minister, was arrested on Tuesday and subsequently released on bail, as confirmed by the Corrupt Practices Investigation Bureau (CPIB) on Friday. This marks the first official acknowledgement of Mr. Iswaran’s arrest since the news broke on Wednesday regarding his involvement in an investigation conducted by the anti-graft agency. However, no details have been disclosed regarding the nature of the investigation.
The CPIB’s response to queries from CNA also shed light on the related arrest of billionaire businessman Ong Beng Seng, which had been revealed by his company, Hotel Properties Limited (HPL), earlier on Friday. Ong Beng Seng, a Malaysian tycoon based in Singapore, was called upon by the CPIB to provide information regarding his interactions with Mr. Iswaran.
The CPIB stated that Mr. Ong was arrested on Tuesday and subsequently released on bail. The agency explained, “As part of bail conditions, subjects’ passports are impounded. Subjects on bail can, however, make requests to travel overseas. CPIB will assess such requests on a case-by-case basis.” In Mr. Ong’s case, the CPIB approved his request to travel abroad and increased his bail amount to S$100,000. The bureau did not disclose the bail quantum for Mr. Iswaran.
The CPIB added that Mr. Ong would be required to report to the CPIB and surrender his passport upon his return to Singapore. As investigations are ongoing, the agency is unable to provide further details at this time.
Singapore’s Prime Minister Lee Hsien Loong has instructed Mr. Iswaran to take a leave of absence until the investigation is concluded. During this period, Mr. Iswaran will remain in Singapore without access to official resources and government buildings.
With a political career spanning over 26 years, Mr. Iswaran was first elected as a Member of Parliament for West Coast GRC in 1997 and was appointed to the Cabinet in 2006. He has served as Transport Minister since May 2021 and concurrently as Minister-in-Charge of Trade Relations at the Ministry of Trade and Industry (MTI) since May 2018.
Before entering politics, Mr. Iswaran held positions in both the public and private sectors, including at the MTI and Temasek Holdings. It was during his time at Temasek Holdings that he had business ties with Mr. Ong, as reported by Reuters in 2007. That same year, Singapore secured the rights to host the first-ever Formula One night race, with 77-year-old Ong often credited for playing a significant role in the deal.
Mr. Ong owns the rights to the Singapore Grand Prix and serves as the chairman of race promoter Singapore GP. In 2022, Singapore signed a contract to host the F1 race for another seven years, marking the fourth renewal and the longest extension to date.
Mr. Iswaran has been actively involved in the government’s engagement with F1, frequently appearing at press conferences where announcements about the event’s future were made.
