SIC chief executive officer Azhan Shafriman Hanif, recently appointed to the role, however revealed that many factors must be considered including the cost they have to shoulder as hosting F1 does not come cheap.

“It is not my top priority at the moment, but if the opportunity comes by and the offer is good, I’m very supportive of this idea because this event brings branding to Malaysia.

“If we agree to host the F1 for a longer period, we will hold a discussion with the government since the hosting fee is not cheap and also the money we spend must be worthy to the government and also the fans,” he told Bernama, recently.

Malaysia started hosting F1 races in 1999 but the government decided to stop it in 2017 due to significant declines in returns.