Ong modest about successful bid

The Straits Times, May 12, 2007
by Tay Cheng Koon

IT IS easy to see why Ong Beng Seng shuns media gatherings. The property tycoon gets decidedly uncomfortable when praise is heaped upon him.

Take yesterday's simple ceremony to announce Singapore's acceptance into the Formula One circuit next year.

At the head table were Minister of State (Trade and Industry) S. Iswaran, Singapore Tourism Board's Lim Neo Chian and entrepreneur Ong, who negotiated the bid. Joining them for the teleconference from Valencia was Bernie Ecclestone, F1's top honcho.

The announcement was expected weeks ago, but was held up by last-minute hitches.

Of the courtship, Ong had innocently said: 'It's not been easy, it's taken us 12 rather difficult months to get to this position.'

Ecclestone's answer was more forthright: 'The people in the government have been so thorough.

'I've known Mr Ong for many years. If it wasn't for him, there wouldn't be the possibility of a race.

'We have five countries waiting to be hosts. It's because of our friendship over the years that he has persuaded me to come to Singapore.'

Ong appeared to be squirming. A few reporters felt he was blushing at the unexpected platitudes.

In fact, he was a picture of restraint throughout the media briefing at the URA Centre Theatrette.

And it was evident that, although he gave the briefest answers, he knows a lot of motor racing.

As he said: 'It feels good to clinch the race...the second time around.'

He had almost secured the rights back in the 1990s, but could not get government support for a permanent track. Nevertheless, his passion remained burning.

Are you doing this for profit?

'Profit? In Formula One?' he queried in return.

His smile returned, and he offered: 'Like in any business, there are risks. I'll tell you after the race. But, starting tomorrow, we're open for business. If you have any proposals, you can come by.'

Then turning more serious, he opened up: 'It's personal interest. I believe it's good for Singapore, just as it is good for F1 to be in Singapore. F1 is an iconic event. When you deal with Bernie, who's so legendary in business, it's tough in all aspects.'