KUALA LUMPUR – The Malaysian Golf Association (MGA) announced that Maybank, unilaterally withdrew its title sponsorship for the 2016 Malaysian Open, a prestigious and long standing professional golf event in Asia.
Its president Tan Sri Mohd Anwar Mohd Nor said Maybank, citing they were not satisfied with explanations given to important issues raised by them as the title sponsor.
“A letter was forwarded to the Chairman of Maybank seeking further clarification as to the nature of the explanation that they were not satisfied but regret to say no official reply has been received,” he told reporters at the MGA office, here Monday.
Mohd Anwar said Maybank has set three conditions, including insisting to engage Globalone as the event promoter, however, the MGA has already appointed and signed a contract with World Sports Group (WSG), as the event promoter.
According to Mohd Anwar, the other two conditions given by Maybank is that the tournament must be held in February and the host venue chosen is the Royal Selangor Golf Club (RSGC).
“Globalone which attended the tender briefing on May 14, forwarded to MGA a letter in writing dated May 25, confirming that they were unable to comply with the scope of services and the terms and conditions of the tender documents. Therefore, they were unwilling to participate in the tender exercise.
“At the closing date on May 25, two proposals were submitted by WSG and Parallel Media Group (PMG). Through the tender exercise, we have appointed and signed with WSG. We have to continue working on it because we cannot reject our new promoter. That is the dilemma we are in now,” he said.
Despite the withdrawal, the MGA president assured the golf fraternity in Malaysia and in the region that the Malaysian Open would be held at the venue and date that would be announced later.
Currently, he said the MGA together with WSG were in the midst of several discussions with parties and stakeholders who are willing to share a common vision and mission to ensure that the Malaysian Open be continued without any interruption in the years ahead.
On the championships’ total prize money, Mohd Anwar said that he would ensure that the new title sponsor would retain the total prize money of US$3 million (about RM12.6 million).
Maybank were the tournament’s title sponsor since 2006.
On July 31, Maybank Chairman Tan Sri Megat Zaharuddin Megat Mohd Nor announced that it will be holding its inaugural Maybank Championship Malaysia (MCM) Golf tournament in February 2016.
The MCM will boast a purse of US$3 million, making it Southeast Asia’s richest event co-sanctioned by the European and Asian Tour.