According to the report, V8 Supercars chief executive officer James Warburton is set to travel to Malaysia in the next few days to meet with the organiser, though it looks increasingly likely that this year’s street race would be postponed.

It had previously been reported that V8 Supercars was working with City Motorsports to organise the KL City 400 Supercar Extravaganza, which had been slated to take place in August this year.

However, the even has reportedly hit a snag due to a legal dispute between City Motorsports and shareholders of GT Global, the organiser of the previous race.

Warburton said he did not believe the dispute would prevent the event from being held in future years, as it had a four-year agreement to hold the event.

He also said despite what was happening in Kuala Lumpur, V8 planned to expand into Asia, with interest from Thailand, Indonesia and Japan to host events.

It had been reported previously that the race was in limbo as no agreement had been struck between the event organiser City Motorsports and the local authority, Kuala Lumpur City Hall (DBKL), to host the event.

A DBKL affidavit sighted by The Edge Malaysia revealed that no fresh agreement to host such an event would be made while legal action with GT Global was ongoing.

Last year, the race had attracted controversy after businesses and residents complained about the traffic congestion caused by closing off of roads for the race.