Changi Motorsports Hub proposals roll in

Hugely interesting article on how the Changi track will pan out. Read. NOW.

Business Times - 08 Sep 2009

Changi Motorsports Hub proposals roll in

All three bidders have clearly different visions, despite putting in similar elements

By NISHA RAMCHANDANI

(SINGAPORE) Three visions of one dream were on display yesterday when parties vying to build and operate Changi Motorsports Hub (CMH) unveiled their proposals.

Guidelines issued by the Singapore Sports Council (SSC) for the 41 hectare site include a track of at least 3.5 km to be certified Grade 2 by the Federation Internationale de l'Automobile (FIA) and Grade 1 by the Federation Internationale de Motocyclisme (FIM).

All three bidders have incorporated elements such as retail, F&B, training academy, Go-Kart track and capacity for at least 30,000 spectators in their bids - but their visions clearly differ.

Singapore Agro Agricultural (SAA)'s 4.37km track will not only meet the FIA-2 and FIM-1 standards but has been designed so it could be extended for Formula One racing should the opportunity arise, SAA said.

The company, whose shareholder Tan Chee Beng is a director of Turf City Management, has also landed an agreement to bring in the hugely popular MotoGP, Formula Ford, Clio Cup and Asia GT races.

SAA reckons that cost of developing its Changi International Speedway at CMH will be around $250-$300 million, to be financed by a mix of debt and investment. It expects to recoup the investment over five years.

Haw Par Corp's wholly owned subsidiary Sports Services proposes to develop a 3,000-member motorsports country club to offset the hefty project cost of CMH - 'in excess of $200 million' - and operating costs. Details of club fees and subscription charges are still to be ironed out.

Sports Services also plans for a Customs-bonded zone with a 563-car garage, where enthusiasts can keep supercars without having to pay massive duty.

For instance, a duty free Ferrari 430F1 Spider has an OMV of $210,000 - plus roughly $255,000 in duty. However, the duty-free car would have to remain within the zone.

Sports Services' plan for a 4.2km track is expected to fulfil FIM-1 certification as well as FIA-1T, which means F1 cars could be tested.

So far, it has signed letters of intent with Australia's V8Supercars and Super GT out of Japan to bring those races here. Other potential events include Asian Superbike, Formula Drift and Race Masters Championship.

Meanwhile, SG Changi, a consortium that includes Kart World owner Thia Yoke Kian, has plans for a 3.7km track in line with FIA-2 requirements. But citing safety issues, it says that its track would not meet the FIM-1 grade at present.

Other SG Changi directors include former Japan GT driver Genji Hashimoto and Singaporean Eddie Koh.

SG Changi has secured letters of interest for international events such as FIA-GT, Super GT, Formula Nippon and Nippon Formula 3, as well as regional series such as Motorsports Asia.

Its $280 million vision for the CMH will be bankrolled largely by foreign investor Auto Trading Luft Japan. The plan includes an R&D facility, motorsports museum and a 120-room 3-4 star hotel.

The winning bidder, which will operate the track for 30 years, will be selected by the first quarter of next year.

Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved.