Sepang International Circuit working on generating more income

KUALA LUMPUR, April 17 — The Sepang International Circuit (SIC) will strategise its business plans in a bid to generate more income during these trying times, said its newly-appointed chief executive officer Azhan Shafriman Hanif.

He admitted that the current COVID-19 pandemic and the on-going Movement Control Order (MCO) has had a huge impact on the company’s revenue in the past few months.

“For now, our priority is to tackle our operating costs, which is quite high. We are looking at how we can generate additional revenue during these trying times.

“We are looking at collaborating with our partners to organise a virtual motorsports race. We have also decided not to cut the salary of our staff or retrench them as we have already taken steps to reduce expenses, including limiting working hours on weekends to a minimal,” he told members of the media via video teleconferencing today.

He also revealed that SIC was looking at several other options, including organising motorsports events without spectators or on a smaller scale if the government still does not allow mass gatherings for the next six months.

Meanwhile, Azhan Shafriman said that the SIC board of directors would meet soon to decide how to distribute funds from the Youth and Sports Ministry (KBS) for national Moto2 rider Hafizh Syahrin Abdullah to cover his racing costs for 2020.

The KBS recently announced that it would hand over the financial aid to assist the Selangor-born Hafizh Syahrin in his career.