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KUALA LUMPUR (August 2): Youth and Sports Minister Syed Saddiq Syed Abdul Rahman said the news of the return of Formula One (F1) races to Malaysia was a misunderstanding.
“I think there was a misunderstanding. Tun (Dr Mahathir Mohamad) said it is not generating income right now, and the cost is too high,” he was quoted as saying by The Malaysian Insight (TMI).
The government would focus on motorsports, which had generated a lot of income for the country.
The cost of the races had been USD$70 million (RM285 million) yearly.
It was previously reported that the prime minister said it was possible that the races would return.
TMI also quoted Syed Saddiq who said the government intended to produce drivers, engineers, and software developers for the motorsports industry.
“That is why, according to the presentation yesterday, Sepang International Circuit (SIC) and KBS (Youth and Sports Ministry) will cooperate to transform SIC and Sepang as a motorsports hub and city.
“It will have a lot more development and job creation. This was a decision made by the cabinet.”
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