Preparations for the Formula One event in September 2023 are going ahead, race promoter Singapore GP said on Friday, July 14 as an anti-corruption probe involving its chairman Ong Beng Seng and transport minister S Iswaran has commenced.

"Singapore GP continues with the planning and preparations for the Formula 1 Singapore Grand Prix slated for Sep. 15 to 17 2023," the organiser said in a statement.

Singapore GP added that it is "not at liberty to provide any further information" as it understands that CPIB’s investigations are ongoing.

The statement came on the same day Hotel Properties Limited (HPL), said its managing director Ong, 77, had been arrested and was asked by the Corrupt Practices Investigation Bureau (CPIB) to provide information in relation to his interactions with Iswaran, 61, who was also arrested.

Ong, the Malaysia-born, Singapore permanent resident, owns the rights to the Singapore Grand Prix -- the first-ever F1 night race awarded to Singapore country in 2007.

The nature of the investigation has not been revealed.

Ong is recognised and credited for bringing the night race to Singapore as he had been instrumental in talks between Singapore Tourism Board and then-Formula 1 boss Bernie Ecclestone.

Iswaran had been actively involved with the government's talks with F1 as well.

Singapore is slated to host the F1 event for another seven years following the signing of a contract in 2022 to bring the event back after a two-year absence due to the pandemic.

The contract was the fourth renewal and longest extension.

Top photo via Singapore Grand Prix Facebook