JANUARY 5, 2002

Sepang to be sold to the Malaysian government

It seems that Petronas, the Malaysian national oil company, has decided against buying the Sepang racing circuit to avoid criticism that an oil company has no need for such a facility.

IT seems that Petronas, the Malaysian national oil company, has decided against buying the Sepang racing circuit to avoid criticism that an oil company has no need for such a facility. The circuit, which is currently owned by the government-controlled Malaysia Airports Holdings, is up for sale as the airport company is in the process of being restructured to do a deal with the Dutch Schipol Group for the running of the airport.

Another Malaysian government company is expected to step in as Malaysian Prime Minister Dr. Mahathir Mohamad continues to believe that the motor racing industry is a great investment for the future.

This may add to the rumors that Petronas is the buyer of the Sauber shares owned by Red Bull.