KUALA LUMPUR – The organising of Formula 1 (F1) racing is still relevant although Malaysia is facing economic challenges following the drop in world oil prices which has also caused the depreciation of the Malaysian Ringgit, said Sepang International Circuit (SIC) chief executive officer Datuk Razlan Razali (pic).
He said in fact, organising the F1 was advantageous for the country because it had its own fan base and thus drew in foreign tourists.
“F1 makes Malaysia an attractive destination in terms of value. Tourists (who like F1) from Europe, America and Australia can spend better in Malaysia.
“The continuation of F1 is still good for tourism. I am very confident this year’s F1 (in Malaysia) won’t be the last,” he told reporters after launching “Sepang 12 hours” at the SIC Media Nite event here Monday night.
He also said sponsorhip for this year’s Malaysian F1 was not affected because sponsors were bound by contractual obligations but in future would depend on Petronas which is the main sponsor.
However, he said SIC would have to be fiscally prudent in these challenging economic times. – Bernama