Ex SIC CEO Says ‘National Strategy’ Needed To Revive F1 In Malaysia

Former Petronas Sepang International Circuit (SIC) CEO Datuk Razlan Razali recently expressed that Malaysia should only consider reviving plans to host a Formula 1 (F1) Grand Prix if there is a coordinated ‘national strategy’ behind it.

The circuit's former CEO told Bernama that the race should not be reduced to its RM300 million annual cost, calling instead to weigh it as a long-term investment with economic spillovers.

“It is not just about the cost. It is about the economic impact a mega event brings. When we first brought the F1 GP in 1999, the purpose was to put Malaysia on the global map,” said Datuk Razlan, who led SIC as CEO from 2008 to 2020.

Malaysia last staged an F1 race at SIC back in 2017. The state-owned circuit then pulled out of hosting the event due to rising costs and weakening annual ticket sales. At that time, Datuk Razlan and the SIC board suggested a pause. 

Since then, he noted, F1 has been revitalised under new owners Liberty Media, with a large part of which gained through the global phenomenon that was the ‘Drive to Survive’ series that streamed exclusively on Netflix.

“Now is the right time to reconsider, because F1 is a stronger product now compared to 2017. But this depends on whether the government has the resources and a serious plan,” emphasised Datuk Razlan with local newswire Bernama

Youth and Sports Minister Hannah Yeoh, on the other hand, had recently dismissed calls to bring F1 back to SIC, citing cost and prioritising athlete development. Naturally, Datuk Razlan however, disagreed. 

“Both can be done if you have the right resources and planning. Athlete development and hosting an F1 race are two different things, you invest in both,” he stressed. He also adds the effort must be government-led, cross-ministerial, and supported by an independent impact study. 

"If you only go to the Ministry of Finance (MoF), the answer will always be no. But if there’s serious intent, it must be done properly with a clear return on investment and at least a five-year agreement,” he added.

Datuk Razlan also cautioned that Malaysia risks falling behind neighbours like Singapore and Thailand, which continue to use mega events to fuel both their respective tourism and economic growth. 

He said Malaysia still holds appeal for F1, with fans and drivers missing Sepang, but stressed that intent and planning matter more than nostalgia. 

“If Malaysia wants to stay competitive, mega events must be part of our strategy. Otherwise, we risk being left behind,” Datuk Razlan concluded.