Business

Friday February 20, 2009

Malaysia Airports still in charge of racetrack

By EUGENE MAHALINGAM


It oversees Sepang circuit ops even after selling it to MoF

KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) will still oversee the operations of the Sepang International Circuit although the track has been sold to the Ministry of Finance (MoF).

Sepang International Circuit Sdn Bhd (SIC) chairman Datuk Mokhzani Mahathir said the administrative control of the track still rested with MAHB.

“The operations of the track will still be under the purview of MAHB,” he told StarBiz on the sidelines after the media launch of the 2009 Formula One (F1) Petronas Malaysian Grand Prix yesterday.

“We will still follow all their guidelines and directions like we have done for the past 11 years,” he added.

Razla Razali (left) and Datuk Mokhzani Mahathir at the media launch

MAHB last week announced that it had disposed of the circuit to the MoF as part of its corporate and financial restructuring plan.

Mokhzani said he was uncertain what role MoF would play now that it owned the circuit.

“MAHB has not said anything. But we have been told that nothing has changed.”

Meanwhile, Mokhzani said he was expecting at least 120,000 spectators at the Malaysian F1 race in April despite the current economic downturn.

“We are expecting a slowdown. Ticket sales are a little bit down compared with the same period last year,” he said, adding that the SIC was looking at having various promotional activities leading up to the race to attract more local spectators.

The SIC recorded its highest F1 race day attendance in its 10-year history last year — 126,690 spectators.

“We hope to attract more local spectators to make up for any shortfall in foreign spectators. We will be having many off-circuit events during the F1 weekend this year to provide more value for money.

“Our events this year will be more exciting than the ones we’ve had in the past 10 years,” Mokhzani said.

Chief executive officer Razlan Razali said the SIC was also working with local transportation companies to make travelling to the circuit and back more convenient.

He also said the SIC was planning more off-track events (during the race weekend) to target more female spectators.

“About 40% of our spectators are females. We hope to have more promotional activities to entice them to come to the track.”


AIRPORT : [Stock Watch] [News]


For latest Bursa Malaysia indices, charts and other information click here

  • E-mail this story
  • Print this story