By Shaffiq Alkhatib | Posted: 26 September 2010 2013 hrs
SINGAPORE : Senior Minister of State for Trade and Industry, S
Iswaran, said it's still early to tell if Singapore's contract to
organise the Formula One races will be extended beyond 2012.
Speaking to reporters at the race on Sunday evening, Mr Iswaran said the decision to proceed will rest on a "robust cost-benefit analysis".
He said the government will embark on a detailed review to look at all the aspects of the F1. It also wants to consult the general stakeholders who are benefiting and participating in the events.
Mr Iswaran said it has been a good year for F1 in Singapore - attracting some 270,000 people - 40 per cent of whom are from overseas.
He said tickets for the races are nearly sold out.
Hotels and F&B outlets are also doing very well during this period, with hotels reporting 90 per cent occupancy rates.
The opening of the two integrated resorts this year added 5,000 rooms. - CNA /ls
got kaching kaching of cos do lah.
but then wat would happen to marina area and the hotels when the track at changi is completed?
marina bay sands oso æ�¬å®¶?
It would help more if RWS could reinstate its free shuttle bus services to the heartlands.
the track at changi will not be up to F1 standards.
how can SG have not up to standard thing?
because the marina bay street circuit and the night race is the new iconic standard that we set. No way they are gonna shoot themselves in the foot.
changi one made for this?
Yea, the winning bid will be able to host any race except a Formula 1 race. It was set right out from the planning stage, so the track itself would not be built up to F1 standards. (:
Sounds like something is going on behind the scenes.
If it was successful and making tons of money and benefiting people in general, they would come out to say they will continue to support it.
Not say they will think about it.
F1 wants to extend by another 20 years !!!!
more nightmares for road users in September !
The race tracks at Changi.... mainly for....
If Im not wrong, it can host a highest race level of F3? Hope Japan's Super GT races will come here in the future.
Singapore to host at least four more F1 races
By Neo Chai Chin | Posted: 18 October 2010 2221 hrs
Singapore Grand Prix (file picture)
SINgAPORE : Singapore will host at least four more Formula One
(F1) night races, even as government agencies and race promoter
Singapore Grand Prix begin their review on extending the contract
agreement, said Trade and Industry Lim Hng Kiang.
Under the current contract, Singapore will host the night race until 2012.
The F1 Administration has the option to offer a five-year extension.
But should Singapore decide not to take that up, it will still have to serve notice, taking the last race hosted to 2014.
Singapore Grand Prix, together with the Singapore Tourism Board and other government agencies, will conduct a review to study the race's costs and benefits to the local economy over the long term.
This could take a year to complete, and its outcome will be announced, said Mr Lim.
Factors to be studied include the race's projected attendance and overseas visitorship in future, its impact on tourism and other sectors, its contribution to Singapore's international branding, and how F1 would continue to fit in with the renewal and transformation of the Republic's tourism landscape.
Current signs appear promising. Mr Lim said preliminary numbers for this year's international night race visitorship stands at 40,000 - close to levels seen for 2008's inaugural race.
On the recent delayed delivery of F1 tickets to Youth Olympic Games (YOG) volunteers, SingPost said it has conducted an internal investigation.
Tickets were sent out late as some reached SingPost after the 5pm collection time.
Some items also had to be repackaged and manually sorted as they were not properly sealed and were of non-standard size. - CNA /ls