No plans to bring Formula 1 GP back to Malaysia, sports minister says
Malaysia previously hosted a leg of the F1 world championship at its Sepang International Circuit (SIC) between 1999 and 2017.
KUALA LUMPUR – Malaysia has no plans to bring back the annual Formula One race due to high sponsorship costs and a tight racing calendar, its sports minister Hannah Yeoh told parliament on Aug 21.
Malaysia previously hosted a leg of the F1 world championship at its Sepang International Circuit (SIC) between 1999 and 2017.
Ms Yeoh said that the event would require a commitment of around 300 million ringgit annually for between three to five years, an amount that is more than double the government's development costs for 20 national sports programmes.
Malaysia would also have to compete with other hosting countries in South-east Asia, such as Singapore and Thailand, for a spot on the tournament calendar, she said.
The Thai government in June approved a US$1.2 billion bid to host a F1 race in Bangkok in 2028.
Malaysia, however, remains open to hosting the event if any private companies were willing to bear the costs, Ms Yeoh said, adding that interested parties can get in touch with the SIC for further discussions.
'The Formula 1 is a prestigious sports event that is followed by fans around the world. So if we could afford it, it would be good to have it in Malaysia,' she said.
Top stories
Swipe. Select. Stay informed.
Singapore 3 people taken to hospital after fire in Bukit Merah flat
Singapore There's no 'I' in team: What PM Wong's National Day Rally message means for Singapore
Singapore 3 Sengkang Green Primary pupils suspended for bullying classmate, with 1 of them caned: MOE
World Israel says it has taken first steps of military operation in Gaza City
Life Why should we bear the burden of budget meals and app discounts, some hawkers ask
Business Chinese brands like Pop Mart, BYD, Joocyee expanding into S'pore as gateway to Asean market
Singapore 18 persons nabbed and 82 vapes seized in HSA ops in Raffles Place and Haji Lane
Opinion How not to use AI is a skill Singapore must master
'Organising F1 races requires the government to pay about RM300mil annually to Liberty Media, which holds the F1 commercial rights. Malaysia must also bind itself to a contract of between three to five years with the said company, amounting to a commitment of about RM1.5bil during this period.'
State energy firm Petroliam Nasional Berhad, or Petronas, which is wholly-owned by the government, holds the naming rights to the SIC, which continues to host MotoGP races and other motorsports events.
Reuters reported last year that Petronas was planning to bring F1 back to Malaysia in 2026, citing sources, though the company said it had not held discussions to bring the race back to the SIC.
A day before Ms Yeoh's statement, SIC chief executive Azhan Shafriman also said 'the costs are very expensive' to host an F1 race.
'We have to look at how Singapore is hosting it. They have everyone on board in making it a success, from the ministries to the corporate sector to the hotels. Everybody contributes,' he added.
'It has to be like that if we bring it back here.'
In related news, it was reported on motor racing website GPblog that Portimao, where the Portuguese Grand Prix took place, has held a meeting regarding a return to the F1 calendar.
However, with only 24 slots, the circuit will have to wait for an opportunity. REUTERS
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
14 minutes ago
- Straits Times
History, triumph and trauma to take centre stage at China's WW2 military parade
Sign up now: Get ST's newsletters delivered to your inbox Soldiers of the People's Liberation Army (PLA) of China attend a training ahead of a military parade to mark the 80th anniversary of the end of World War Two, in Beijing, China, August 20, 2025. REUTERS/Maxim Shemetov BEIJING - Airport scanners at office entrances, road closures for large-scale midnight rehearsals, drones banned, guards stationed 24/7 on all overpasses: Beijing has effectively paralysed its urban core for a 70-minute military parade on September 3. The "Victory Day" parade, marking the end of World War Two following Japan's formal surrender, will be a projection of China's growing military might amid deep-seated mistrust in the West, geopolitical uncertainty with the United States and territorial rows with neighbouring countries. The highly choreographed parade, one of China's largest in years, will unveil cutting-edge equipment like fighter jets, missile defence systems and hypersonic weapons - the results of a long-running modernisation drive of the People's Liberation Army which has lately been beset by corruption scandals and personnel purges. On the day, President Xi Jinping will survey tens of thousands of troops at Tiananmen Square alongside several foreign dignitaries including guest of honour Russian President Vladimir Putin. Most Western leaders are expected to shun the parade, making it a major show of diplomatic solidarity between China, Russia and the Global South. Ahead of the parade, Beijing has also mounted a campaign to emphasise the "correct view" of World War Two history, which emphasises that China and Soviet Russia played a pivotal role in fighting fascist forces in the Asian and European theatres. "Putin and Xi take commemoration of the war so seriously because it shows that ... Russia and China can take pride in their history and that Western attempts to tarnish their past... will fail," said Joseph Torigian, associate professor at American University and an expert in Sino-Soviet history. Top stories Swipe. Select. Stay informed. Singapore New ACS special education school to take in 100 pupils with autism in January 2026 Business Changi Travel Services cuts 30 staff amid market shifts Asia Crackdown on illegal ride-hailing between JB and Singapore has spooked touts Sport Koen Pang, Izaac Quek become first S'poreans to reach table tennis Grand Smash s-finals Singapore Meet the team tracking monkey sounds in Singapore to stop emerging diseases Singapore Courier tip-off leads to HSA seizure of Kpods, drugs in Tampines and Grange Road raids World Trump gives two weeks to assess Russia-Ukraine peace prospects Opinion A Trumpian game of ping pong over Ukraine's future "World War Two is a foundational moment in the civilisational agendas that Putin and Xi are pursuing... Both men believe they are driving changes unseen in a century." A People's Daily commentary this week claimed China's contribution to fighting Japan was "selectively ignored and underestimated by some", adding the Communist Party's wartime efforts were "deliberately belittled and vilified". "Ignoring the ironclad facts of history, disregarding the tens of millions of innocent lives lost in the war, and ... repeatedly denying or even glorifying the history of aggression constitutes a shameless betrayal," it read. Chinese academics have renewed efforts to rewrite what they believe are mainstream, Western-centric narratives of World War Two and advocate that the war actually started in 1931 with Japan's invasion of China. "China and Russia are the biggest victors and suffered the greatest losses during the war," said Wang Wen, dean of the Chongyang Institute for Financial Studies at Renmin University of China. "Chinese resistance played an indispensable role in draining Japanese military resources, which laid the groundwork for the defeat of the Axis powers." PROPAGANDA EFFORTS Chinese casualties during the War of Resistance Against Japanese Aggression, as it is known domestically, are estimated at between 20 million and 35 million. China says over 35 million people died, including 300,000 killed by Japanese troops during the 1937 Nanjing Massacre. A post-war Allied tribunal put the death toll in Nanjing at about half that number. Some historians estimate the death toll was over 200,000. Graphic scenes from the massacre are heavily featured in the recent Chinese blockbuster movie Dead to Rights, whose domestic box office takings have surpassed 2.6 billion yuan ($362 million) since late July. The film is loosely adapted from the real life story of a Chinese photography apprentice in Nanjing who secretly compiled photographic evidence of Japanese war crimes. Another contentious point is the extent of the Communist Party's contributions towards fighting the Japanese. Historians commonly agree that China's republican government engaged in most direct combat with Japan, while Communist guerrilla forces carried out raids on Japanese supply lines. At a museum in Beijing's outskirts dedicated to the war in China, displays say Communist troops "annihilated substantial Japanese forces" while airbrushing all mentions of the republican forces for the "Chinese army". Some governments face a difficult decision between appropriately recognising China's immense war sacrifices and legitimising the presence of Putin, diplomats say, whose invasion of Ukraine continues. Most European Union ambassadors will not attend the parade and Western countries' requests for working-level diplomatic representation have so far been rejected, two diplomats told Reuters. A state reception and an evening cultural performance are planned for the same day. Many ordinary Beijing residents who have experienced weeks of widespread disruption to their daily lives are hoping for a brief respite. The last time the parade was held, in 2015, China implemented a nationwide three-day public holiday and Beijing schools delayed the start of term. "I just want to meekly ask ... can we have a public holiday so we can concentrate on watching the parade?" one user on the microblogging platform Weibo wrote on Wednesday. REUTERS
Business Times
an hour ago
- Business Times
Trump weighs using US$2 billion in Chips Act funding for critical minerals, sources say
THE Trump administration is considering a plan to reallocate at least US$2 billion from the Chips Act to fund critical minerals projects and boost Commerce Secretary Howard Lutnick's influence over the strategic sector, two sources familiar with the matter told Reuters. The proposed move would take from funds already allocated by Congress for semiconductor research and chip factory construction, avoiding a fresh spending request as it seeks to reduce US dependence on China for critical minerals used widely in the electronics and defence industries. Boosting Lutnick's role over critical minerals financing would also help centralise the administration's approach to the sector, a push sought by White House officials after the rollout of the Pentagon investment in rare earths company MP Materials last month sparked questions about the US government's minerals strategy, one source said. The White House did not respond to requests for comment. Pentagon officials were not immediately available to comment. MP Materials declined to comment. The Commerce Department oversees the US$52.7 billion Chips Act, formally known as the Chips and Science Act. The act, signed into law by then-President Joe Biden in 2022, has provided funding so far for research while also seeking to lure chip production away from Asia and boost American domestic semiconductor production. But since taking office in January, Trump has moved to change the Chips Act - legislation he has called 'a horrible, horrible thing' that amounts to a giveaway to companies - largely by renegotiating grants to chipmakers. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Repurposing some funds for mining-related projects would align in part with the spirit of the Chips Act as the semiconductor industry requires abundant supplies of germanium, gallium and other critical minerals over which China has tightened its market control, said the sources, who are not permitted to speak publicly about the deliberations. 'The administration is creatively trying to find ways to fund the critical minerals sector,' said the first source. The plans are under discussion and could change, the sources added. Mining companies themselves could benefit, but also processing and recycling firms. Most of the minerals considered critical by the US government are not processed inside the country. Kent Masters, CEO of North Carolina-based Albemarle , the world's largest producer of lithium for rechargeable batteries, told Reuters last month that the company's stalled plans to build a US lithium refinery are 'difficult now without some type of government support or partnership.' It was not immediately clear if the Trump administration aimed to use the funds for grants or equity stakes in mining companies, but Lutnick aims to 'get the US$2 billion out the door' as soon as possible, the first source said, adding that the administration aims to find other funds to reallocate in the near future. A former US official said the Biden administration considered using Chips Act grants for rare earths but decided it was uneconomical, required many environmental exemptions and was best left for the Department of Energy to handle. The administration is also looking to use Chips Act-related funding to take equity stakes in Intel and other chip makers in exchange for cash grants, Reuters reported on Tuesday. Trump moved quickly to expand US critical minerals production since taking office in January by signing executive orders to boost deep-sea mining and domestic projects. On Tuesday he met with the CEOs of Rio Tinto and BHP at the White House despite the ongoing negotiations with European leaders over Russia's invasion of Ukraine, a move aimed at underscoring his support for US mining. The Chips Act deliberations come after the Energy Department last week proposed US$1 billion in spending for some critical minerals projects, with funds tied to the 2021 Bipartisan Infrastructure Law. Lutnick The White House aims to give Lutnick a greater role over funding decisions for critical minerals by giving him oversight of the decision making process within the administration, the sources said. The Pentagon's multibillion-dollar investment in MP Materials and its move to extend a price support mechanism - a deal negotiated by Deputy Defence Secretary Steve Feinberg - was seen by White House Chief of Staff Susie Wiles as uncoordinated as it sparked confusion over whether Washington would guarantee a price floor for all miners and forced the administration to clarify that it does not intend for MP to have a rare earths monopoly, the two sources said. Much of the funding for MP's deal - including Washington's equity stake, loans and purchase agreements - still needs to be allocated by Congress. Two weeks after the Pentagon announced its MP investment, administration officials rushed to meet at the White House with rare earths firms and their customers to underscore broad support for the entire sector, Reuters reported. Lutnick will now help coordinate the administration's funding decisions, taking the lead from the Pentagon and other agencies, the sources said. Lutnick ran brokerage firm Cantor Fitzgerald before he joined Trump's cabinet. Cantor is a large shareholder in Critical Metals Corp, which Reuters reported in June is under consideration for a loan from the US Export-Import Bank. REUTERS
Straits Times
an hour ago
- Straits Times
Trump weighs using $2.58 billion in Chips Act funding for critical minerals, sources say
Sign up now: Get ST's newsletters delivered to your inbox Repurposing some funds for mining-related projects would align in part with the spirit of the Chips Act. WASHINGTON - The Trump administration is considering a plan to reallocate at least US$2 billion (S$2.58 billion) from the Chips Act to fund critical minerals projects and boost Commerce Secretary Howard Lutnick's influence over the strategic sector, two sources familiar with the matter told Reuters. The proposed move would take from funds already allocated by Congress for semiconductor research and chip factory construction, avoiding a fresh spending request as it seeks to reduce US dependence on China for critical minerals used widely in the electronics and defence industries. Boosting Mr Lutnick's role over critical minerals financing would also help centralise the administration's approach to the sector, a push sought by White House officials after the rollout of the Pentagon investment in rare earths company MP Materials in July sparked questions about the US government's minerals strategy, one source said. The White House did not respond to requests for comment. Pentagon officials were not immediately available to comment. MP Materials declined to comment. The Commerce Department oversees the US$52.7 billion Chips Act, formally known as the Chips and Science Act. The Act, signed into law by then-President Joe Biden in 2022, has provided funding so far for research while also seeking to lure chip production away from Asia and boost American domestic semiconductor production. But since taking office in January, Mr Trump has moved to change the Chips Act - legislation he has called 'a horrible, horrible thing' that amounts to a giveaway to companies - largely by renegotiating grants to chipmakers. Top stories Swipe. Select. Stay informed. Singapore New ACS special education school to take in 100 pupils with autism in January 2026 Singapore Courier tip-off leads to HSA seizure of Kpods, drugs in Tampines and Grange Road raids Business Changi Travel Services cuts 30 staff amid market shifts Singapore Eavesdropping on monkeys in Singapore to watch out for emerging diseases World Trump gives two weeks to assess Russia-Ukraine peace prospects Opinion A Trumpian game of ping pong over Ukraine's future Asia Crackdown on illegal ride-hailing between JB and Singapore has spooked touts Opinion Why that hand-wringing over The Projector isn't pointless Repurposing some funds for mining-related projects would align in part with the spirit of the Chips Act as the semiconductor industry requires abundant supplies of germanium, gallium and other critical minerals over which China has tightened its market control, said the sources, who are not permitted to speak publicly about the deliberations. 'The administration is creatively trying to find ways to fund the critical minerals sector,' said the first source. The plans are under discussion and could change, the sources added. Mining companies themselves could benefit, but also processing and recycling firms. Most of the minerals considered critical by the US government are not processed inside the country. Mr Kent Masters, CEO of North Carolina-based Albemarle, the world's largest producer of lithium for rechargeable batteries, told Reuters in July that the company's stalled plans to build a US lithium refinery are 'difficult now without some type of government support or partnership.' It was not immediately clear if the Trump administration aimed to use the funds for grants or equity stakes in mining companies, but Mr Lutnick aims to 'get the US$2 billion out the door' as soon as possible, the first source said, adding that the administration aims to find other funds to reallocate in the near future. A former US official said the Biden administration considered using Chips Act grants for rare earths but decided it was uneconomical, required many environmental exemptions and was best left for the Department of Energy to handle. The administration is also looking to use Chips Act-related funding to take equity stakes in Intel and other chipmakers in exchange for cash grants, Reuters reported on Aug 19. Mr Trump moved quickly to expand US critical minerals production since taking office in January by signing executive orders to boost deep-sea mining and domestic projects. On Aug 19, he met with the CEOs of Rio Tinto and BHP at the White House despite the ongoing negotiations with European leaders over Russia's invasion of Ukraine, a move aimed at underscoring his support for US mining. The Chips Act deliberations come after the Energy Department last week proposed US$1 billion in spending for some critical minerals projects, with funds tied to the 2021 Bipartisan Infrastructure Law. The White House aims to give Mr Lutnick a greater role over funding decisions for critical minerals by giving him oversight of the decision-making process within the administration, the sources said. The Pentagon's multibillion-dollar investment in MP Materials and its move to extend a price support mechanism - a deal negotiated by Deputy Defence Secretary Steve Feinberg - was seen by White House Chief of Staff Susie Wiles as uncoordinated as it sparked confusion over whether Washington would guarantee a price floor for all miners and forced the administration to clarify that it does not intend for MP to have a rare earths monopoly, the two sources said. Much of the funding for MP's deal - including Washington's equity stake, loans and purchase agreements - still needs to be allocated by Congress. Two weeks after the Pentagon announced its MP investment, administration officials rushed to meet at the White House with rare earths firms and their customers to underscore broad support for the entire sector, Reuters reported. Mr Lutnick will now help coordinate the administration's funding decisions, taking the lead from the Pentagon and other agencies, the sources said. Mr Lutnick ran brokerage firm Cantor Fitzgerald before he joined Mr Trump's Ccabinet. Cantor is a large shareholder in Critical Metals Corp, which Reuters reported in June is under consideration for a loan from the US Export-Import Bank. REUTERS
