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DATE News (chronologically)
09/17/09
f1
Investor claims Lotus F1 “commercially viable”  Malaysia’s participation in the Lotus F1 team is commercially viable as it will generate benefits for all parties involved, according to Datuk Kamarudin Meranun, an investor in the 1Malaysia F1 Team.

The 1Malaysia F1 Team is running Team Lotus F1, which was accepted as the 13th and final entry on the grid last week, joining other newcomers Campos, Manor, US F1 from the 2010 season.

Kamarudin, who is deputy chief executive officer of AirAsia, is investing in 1Malaysia alongside Datuk Tony Fernandes and S.M. Nasaruddin S.M. Nasimuddin.

“It’s a win-win (situation) for everyone as the branding will create excitement for Malaysia and its infrastructure like the Sepang F1 Circuit while as investors, we would be able to derive income from the merchandise,” Kamarudin told StarBiz in a telephone interview yesterday.

“This is a smart partnership between the GLCs (government-linked companies) and entrepreneurs in the true form of one Malaysia.”

Kamarudin added that an initial amount of £10 million had been invested for the development of the Lotus F1 vehicle, as the car had to be approved by the International Automobile Federation (FIA) for next year’s race.

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