F1 contracts not disadvantageous to Singapore government - trade ministry

Contracts related to the Singapore Grand Prix were not structured to the government's disadvantage, its trade ministry said on Thursday, after a minister was charged with graft over kickbacks allegedly taken from a tycoon who held rights to the night race.

"The terms of all the agreements were considered carefully by the government.... there is nothing to suggest as of now that either the F1 contracts or other contracts were structured to the disadvantage of the government," it said in a statement.