To race or not to race, horse owners in a bind

Horse owners share one thing in common – the primal desire to win races, or they would not be in the onerous sport.

While the demise of Singapore horse racing has brought its approximately 500 owners together – a working committee was even formed – it would seem they do not share the same vision about their doomed future.

To some, racing is already on death row and only a 1,000-1 miracle can save it from the gallows.

But the majority are still keen on a last flutter towards some form of grace beyond the Oct 5, 2024, deadline.

As the president of Thoroughbred Owners Association and GB Sports Trust (Toast) Stable – which has eight horses – Ms Constance Cheng is among the most vocal supporters for an extension.

The 72-year-old lives and breathes horse racing, but since the day the bombshell dropped on June 5, she has had trouble sleeping.

“Till now, I’ve never had a good night’s sleep. I have to take sleeping pills,” said the former amateur jockey who has been riding horses since she was 17 and became a horse owner after she returned from Australia in 1995.

“When the rumours started, I didn’t believe them. I thought maybe that masterplan the Government spoke about before Covid-19 – lifestyle hub around racing – was back on the table.

“I never thought for a second they would shut off racing completely.”

Once the news sank in, the petite but feisty businesswoman got down to work.

While trainers and owners are divided between compensation or extension of time, Ms Cheng said: “For the welfare of staff and horses, their morale, as well as the owners’, we’re going to appeal for an extension of, say, five to seven years.

“Sixteen months is too short, staff will leave, we won’t have time to relocate horses, who will look after them?

“But if after five or seven years, the club (Singapore Turf Club) is on the right track and is recognised as a sport, then the Government can review whether to close or continue.”

Not all owners share that view, however. Mr Lim Siah Mong of the iconic Lim’s Stable countered that the macroeconomics for a big yard makes it even tougher in survival mode.

The 66-year-old Singaporean businessman and owner of around 30 horses – headed by Singapore Horse of the Year Lim’s Kosciuszko – is sad about the demise of an industry he sponsored through his Dester beer brand in its heyday.

However, he still sees a silver lining stemmed by the endgame.

“There’s enjoyment and excitement in each race. When your horse wins, the feeling is very special,” he said.

“Financially, I’m better off with the club closing, as I get to keep a million or two in my pockets. At my peak, I owned more than 60 horses. It was cheaper to own a horse in those days, but it has become more expensive this time around.

“If a horse owner does not win a $1 million race, the expenses of a huge stable of horses will overwhelm him. My horses normally cost me between $50,000 and $200,000 (excluding $16,000 for freight, insurance, vaccinations) and I pay about $4,000 a month for just one horse’s upkeep.

“Last year, we won the $1 million Singapore Gold Cup, and we won the same race this year, so I feel pretty gratified. My training expenses are mostly covered by these wins.”

With the rule of thumb that only one in five horses breaks even, it comes as little surprise that the multiple-champion owner would rather let go than fight on.

“Racing enthusiasts and avid horse owners are fretting and disappointed. Why continue in this emotional state?” he asked.

“Everything undergoes change, and some things simply come to an end. We have to accept them and move on. That’s life. Nothing lasts forever.”

While his heart aches for his stable staff, mostly at Daniel Meagher’s stable, Mr Lim said he will continue racing overseas in Australia or Hong Kong.

For Ms Cheng, her sense of despair also extended to future horse owners, or the “lost generation”, as she calls them.

She recently got the young involved through affordable shares in horses, like her grandnephew Melvin Tjahaja.

“Constance got me to buy a 10 per cent share in a very nice two-year-old named Silo. I then sold four shares of 2 per cent each to my friends.

“We had a win already. The whole interest started to grow, and we also really enjoyed the social side of racing. It’s so much different than being just a spectator.”

Ms Cheng said young racegoers such as Mr Tjahaja debunk the myth that racing is an old man’s game. But it may prove too little, too late.

“Unfortunately, if racing is closed for good, they also shut off decades of racing, past and future,” she said.

“There is so much beauty and glamour in racing that the next generation won’t get to know.

“Hopefully, we can convince the Government that racing deserves a second chance. Otherwise, it will deprive us Singaporeans of our passion, our sport, our lifestyle.”