MAY 4, 2001
Sepang to be sold?
ACCORDING to reports in Malaysia, Tan Sri Basir Ismail, the chairman of Malaysia Airports Holdings, is offering to buy the Sepang circuit from the airport company he controls. MAH is under pressure from investors for not producing better results and part of the problem is the financial drain on the business from the circuit.
The circuit has made losses of around $10m in the last two years and recently the circuit asked the government for a large loan to help them build up Sepang to host more international events and thus help the tourist trade in Malaysia.
It is not clear how much money Basir Ismail is offering for the facility but his close links with Malaysian Prime Minister and with the government-owned oil giant Petronas (which he used to run) would make it easier for him to find money for the business than it has been for MAH.
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