Latest news with #Shafriman
New Straits Times
6 hours ago
- Automotive
- New Straits Times
SIC eyes new revenue streams to reduce need for government funding
KUALA LUMPUR: Sepang International Circuit (SIC) is looking at ways to reduce dependency on government funding to run its development programmes and infrastructure upgrades. SIC chief executive officer Azhan Shafriman Hanif said they are looking at creating new means of income generation for the FIA grade one track. SIC recently announced a 10-year business plan to fully utilise the track's massive 303-hectare landbank, much of which is currently unutilised. SIC hopes to attract investors to develop hotels, food and beverage outlets as well as motorsports facilities. "When it comes to hosting the Petronas Grand Prix of Malaysia (MotoGP Malaysia) we are already in the black (event is profitable)," said Shafriman when met recently. "I believe what the government wants is for us to have less dependency on funding from them, especially when it comes to talent development programmes and upgrading our infrastructure. "SIC has largely been doing the same things for the last 26 years (to generate revenue). "So the goal for my team and I now is to look at new ways to increase our revenue." Sepang Circuit, which opened its doors in 1999, has undergone a number of refurbishments and upgrades over the years, which includes a complete resurface of the track in 2016 and partial resurfacing in 2023. Improvements to roofing, sewerage, drainage, toilets, electrical systems and seating have also been done in recent seasons. SIC has over the years depended on government grants to conduct their talent development programmes in both two and four-wheeled motorsports. This ranges from developing riders for the MotoGP World Championships, drivers for touring car and endurance racing world championships to national series such as the Malaysian Touring Car Championships and Malaysian Superbike Championships.
New Straits Times
2 days ago
- Automotive
- New Straits Times
Dropping Formula One was a mistake, says Sepang boss
KUALA LUMPUR: Sepang International Circuit (SIC) chief executive officer Azhan Shafriman Hanif believes it was a mistake for Malaysia to stop hosting Formula One races here. Shafriman said it is now very difficult to bring back the race to Sepang as there is a long waiting list for a slot on the Formula One calendar. SIC is currently preparing to negotiate a contract renewal for MotoGP hosting rights with Dorna Sports. "We do not want to repeat the mistakes of the past. We let Formula One go and now it is very hard to get it back. I hope we don't make the same mistake with MotoGP," said Shafriman recently. "There is a waiting list to get back in (for Formula One) and of course, the costs are very expensive. We were quoted US$70 million race fees (by owners Liberty Media). "That is for each event (edition of Malaysian GP). That does not include our setup costs which are in the region of RM10 to RM20 million for each event. "In total, it would cost us more than RM300 million to bring back the race (annually). "A lot of people (countries) are queuing so it won't be easy. But if we are really serious about it, then maybe we can start the conversation." Sepang hosted Formula One between 1999 to 2017 but dropped the event due to high organising costs, dwindling global interest in the championship and disappointing ticket sales in Malaysia. Formula One has, however, been given a new lease of life since being taken over by current owners Liberty Media in 2017. The Drive to Survive Netflix series, which began airing in 2019, and the introduction of Saturday sprint races in 2021 has significantly boosted interest in the championship. Shafriman added there is strong interest in bringing back the event to Sepang and believes it could be successful if done the right way. "It is not just SIC that wants Formula One. Many other stakeholders from both the government as well as the corporate sector also want it back," said Shafriman. "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. "It has to be like that if we bring it back here." Shafriman, however, stressed that it will take some time to turn a profit if Malaysia does once again host Formula One. SIC last week claimed that the highly popular Petronas Grand Prix of Malaysia (MotoGP Malaysia) provides 6.3 times return on investment for Malaysia based on an economic impact study conducted last year. "It will take time. Even with MotoGP, it took time for us to increase the ROI," said Shafriman. "The important thing is that everyone (stakeholders) comes together. "All this while people view MotoGP and Formula One as SIC's events, when they are actually national events. "We are at the forefront in terms of managing the thing, branding and so on, but essentially they are Malaysian events."
New Straits Times
6 days ago
- Business
- New Straits Times
Sepang faces 20 per cent fee hike to continue hosting MotoGP
KUALA LUMPUR: Malaysia might have to pay up to 20 per cent more in MotoGP rights fees if it wants to continue hosting the hugely popular race at Sepang Circuit beyond 2026. Sepang International Circuit's (SIC) current deal with MotoGP owners Dorna Sports expires next year. SIC chief executive officer Azhan Shafriman Hanif is hoping to negotiate better terms on the renewal. It is unknown how much Malaysia, which is currently at the tail end of a three plus two year contract with Dorna, is currently paying to host the race annually. "We are in the process of collecting information (regarding renewal) and hope to table it to the cabinet by the end of the year," said Shafriman yesterday (Aug 13). "Dorna are also chasing us for a decision as they want to finalise their calendar (for 2027) and possibly look for a replacement if we do not want to continue hosting it. "Of course there will be an increase (in hosting rights fees), possibly about 20 per cent compared to previously. "It is quite high, however, we are still negotiating to get the best value for Malaysia." Shafriman highlighted the fact that the Malaysian GP has a significant positive impact on the local economy. He claimed the event provides 6.3 times return on investment for Malaysia based on an economic impact study conducted last year. Shafriman added that SIC will do their best to refrain from increasing ticket prices as it could impact spectator turnout during the event. "We do not want to burden the rakyat (people) with expensive tickets. We previously saw what happened with Formula One (here)," said Shafriman. "When Formula One tickets were sold at an expensive price, it was difficult for people to come and watch the race. "We are aware of the current economic situation and are hoping to keep MotoGP tickets at a very affordable level". SIC is currently selling Malaysian GP (October 24-26) Rahmah Tickets for RM49.90. The race achieved a new three-day attendance record of 184,923 fans last year. SIC is hoping to break the 200,000 barrier this year.
The Sun
7 days ago
- Automotive
- The Sun
2025 Malaysia MotoGP: SIC targeting 200,000 spectators
KUALA LUMPUR: The Sepang International Circuit (SIC) is maintaining its target of attracting 200,000 spectators to watch the World Motorcycle Championship (MotoGP) over three days at the 2025 Malaysian Grand Prix (GP) on Oct 24-26. SIC Chief Executive Officer Azhan Shafriman Hanif said the company was aware of the high target compared to the previous edition but was still determined to realise it this year. Last year's Malaysian GP recorded a three-day attendance of 184,923 spectators. 'We have reached 75 per cent of the ticket capacity sold and this year we are introducing some exciting features including the first-ever pre-race electronic dance music (EDM) festival. 'The target of 200,000 spectators is quite bold but of course with the support of everyone we know we can achieve it,' said Shafriman during the launch of the 2025 Malaysian GP here today. Also present at the launch was Youth and Sports Minister Hannah Yeoh who said the race will be preceded by two EDMs on Oct 18-19. 'RM1 from every ticket sold will also be channelled to the National Sports Trust Fund (KWASN) which will support the development of Malaysian athletes. 'SIC is also introducing a special Buy One-One Free promotion for Malaysia GP Rahmah tickets priced at RM49.90 each. The promotion which started at 12 noon today will end at 8pm tomorrow,' she said. - Bernama
New Straits Times
7 days ago
- Business
- New Straits Times
SIC eyes record-breaking crowd for Malaysian GP
KUALA LUMPUR: Sepang International Circuit (SIC) is sticking to their target of attracting 200,000 fans over three-days at the Petronas Grand Prix of Malaysia (Malaysian GP) on October 24-26. SIC chief executive officer Azhan Shafriman Hanif admits it is a lofty target but is determined to make it happen this year. The Malaysian GP achieved a record three-day attendance of 184,923 last year. "We have already reached 75 per cent of our ticket capacity and this year we are introducing a number of exciting enhancements which includes our first-ever pre-race electronic dance music festivals," said Shafriman during a Malaysian GP event in Kuala Lumpur today (Aug 12). "200,000 (target over three-days) is a bit of a stretch we know, but of course, with the support of everyone we know we can achieve it." Youth and Sports Minister Hannah Yeoh also attended the Malaysian GP event today. The race will be preceded by two EDM festivals on October 18-19. RM1 from each ticket sold will be channeled to the National Sports Trust Fund (KWASN) which will support the development of Malaysian athletes. A special buy one free one ticket promotion is currently being held for Malaysian GP Rahmah Tickets which are priced at RM49.90 each. The promotion, which started at 8pm today (Aug 12), is only for 24 hours.
