Singapore to host Formula One race in 2008

The Straits Times, May 11, 2007
by Sanjay Nanwani


IT'S confirmed - F1 is coming to Singapore.

This was announced at a joint media briefing chaired by the Trade and Industry Ministry, the Singapore Tourism Board and local tycoon Ong Beng Seng.

Mr Ong has won the rights to host the race for five years from 2008.

The first race is expected in September or early October next year.

The exact race circuit is yet to be worked out but plans are afoot for a street race held in the Marina Bay and Suntec area.

The route is tentatively 5.26km with an estimated 60 laps.

Minister of State for Trade and Industry S Iswaran said Singapore could 'potentially stage the first ever night race' but that will materialise only if all 'safety requirements are met'.

The alternative he said, is a day race.


Boost to tourism
Mr Iswaran said the Singapore Grand Prix will bring a strong boost to the tourism sector here - attracting more than 80,000 spectators from around the world and $100mil in tourism receipts.

'Hotels, night spots, restaurants, retailers, airlines, taxi drivers and many other groups will benefit. The hive of activity surrounding the race will create opportunities for individuals and companies alike,' he said.

Bringing in the race will cost up to $150mil.

Mr Iswaran said: 'Revenue from ticket sales, merchandising and sponsorship will defray some of the costs. However given the larger economic benefits from an F1 race that do not accrue to the Race Promoter, there is a cause for commensurate support from public funds.'

To this end, the Singapore Tourism Board (STB) will co-fund 60 per cent of the cost under the Tourism Development Fund.

To help defray costs, the government will impose a tax of no more than 30 per cent on hotel room revenue during the race period.


Traffic disruption
Mr Iswaran also said that some roads will be closed before, during and after the race.

He called for the co-operation of all Singaporeans to cope with the traffic disruption.

Mr Iswaran added an inter-agency committee will be formed to help mitigate any inconvenience caused while ensuring that Singapore stages a 'world-class F1 race'.

'By holding the race on a street circuit in Marina Centre, we will bring the buzz and excitement into the heart of the city, so that everyone can enjoy the festivities. And there will be ample opportunity for broad-based participation in the event - whether as a guest, a spectator, a volunteer or simply to participate in the events that will be held around the race,' he said.


Malaysia's F1 will not be affected
Malaysia's Formula One Grand Prix will not be affected by Singapore winning the right to host a race, the head of the Sepang circuit said Friday.

'I congratulate Singapore on joining the club of Formula One hosts. Next year will be their first year and it will be our tenth,' Mr Mokhzani Mahathir, chairman of the Sepang International Circuit said.

'The people in Southeast Asia will have a chance to see both now, a city street circuit and ours, which is a race circuit, so it will be interesting,' he said.

Malaysia's sports minister Azalina Othman Said last month said there should only be one F1 race in Southeast Asia, but Mr Mokhzani said the development would promote the sport.