“No, it will not happen,” he told FMT today.
He was commenting on media speculation that the Sepang track might again host F1 races which former prime minister Najib Razak’s administration ended after cancelling the contract to run the race from this year.
In his announcement last year, Najib said races were stopped because of dwindling returns for the country compared to the cost of organising the event.
Talk of F1 races returning to Sepang was sparked by Prime Minister Dr Mahathir Mohamad taking a Ferrari for a spin on the track after launching a new lighting system yesterday.
He reportedly responded with a “perhaps” when asked by the media whether the lighting system was being installed to prepare for F1 races.
Mahathir brought F1 racing to Malaysia in 1999 during his first stint as prime minister.
Razlan said SIC’s focus now was to improve facilities at the track and to promote motor sports.
“The cost of organising F1 racing is very high and in view of the country’s current economic situation, we have not given any thought to holding it in the near future.
“The Youth and Sports Minister Syed Saddiq Syed Abdul Rahman has also informed SIC that the Cabinet would not approve the event to be staged again,” he said.