Hannah Yeoh: Funding Gap Slows Motorsports Growth

Youth and Sports Minister Hannah Yeoh is calling for better tax incentives to attract corporate sponsorships for motorsports, a sport she says requires far more funding to truly grow.

Despite the government's RM5.6 million allocation for motorsports this year, Yeoh admitted it falls short of what's needed, especially considering how expensive it is to develop talent and run events in the sport compared to others like football or badminton.

She explained that while the Ministry continues to focus on Olympic-related sports, motorsports is still one of the 103 sports recognized under the Sports Development Act. 

According to her, out of the RM5.6 million, RM1.9 million was given to the Motorsports Association of Malaysia, RM3.2 million was distributed among state-level clubs and associations, and RM450,000 was allocated to the State Youth and Sports Departments. 

A special trust has also been established to allow athletes to apply for small grants to help with competition costs.

She went on to stress that motorsports enjoys a large following in Malaysia, but developing athletes in the sport is a long-term effort that demands significant investment. She emphasized the importance of involving more companies and urged the corporate sector to follow the example of CIMB, which actively supports Malaysian athletes. 

Moving forward she hopes the government can introduce new tax incentives to encourage more businesses to sponsor sports that rely heavily on private funding.

While government investment has traditionally focused on Olympic, Asian, and Commonwealth Games sports, and more recently esports - with RM20 million allocated to that sector this year - Yeoh believes it's time to give motorsports a stronger push.

She shared her thoughts after attending a sponsorship signing ceremony between CIMB Group Holdings and Malaysian race car driver Amer Harris Jefry in Kuala Lumpur.

Amer, only Malaysian racer to be selected by the Porsche Carrera Cup Asia Talent Pool in 2025, signed a two-year deal with CIMB, and is aiming for a strong performance in his debut season. He’s especially confident about the upcoming race at Sepang Circuit from June 6 to 8, a track he is familiar with - having spent thousands of hours on it.

CIMB noted that their research shows motorsports is the third most popular sport in Malaysia after football and badminton, based on audience numbers and event attendance.

Source: CIMB & NSTP