26 Sep '11, 12am

S Iswaran would like to see #F1 continue on "a mutually beneficial basis": Means we are losing $$ & want a discount.

SINGAPORE - Formula 1 has benefitted the Republic but there is "no hurry" to extend the race beyond its current contract, Second Minister for Trade and Industry S Iswaran said yesterday. The SingTel Singapore Grand Prix - the world's only F1 night race - yesterday successfully concluded its fourth season of a five-year deal between race promoter Singapore Grand Prix (SGP) and Formula One Management. While no timeline has been given, Mr Iswaran hopes a decision will be reached soon. "At the end of the day, we do have five years on the contract and there is no need to be hurried about it," he told reporters at a community outreach event at Marina Bay Sands (MBS) yesterday. "We should be deliberate and measured in the way we go about this ... taking into account all factors. It's not about delaying, but about everyone making sure they have carefully studied it and there is ti...

Full article: http://www.todayonline.com/Hotnews/EDC110926-0000053/Sing...

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