KUALA LUMPUR, After enduring the financial strain of the Covid-19 pandemic, Sepang International Circuit (SIC) is setting its sights on long-term growth with plans centred on land monetisation, new investments, and broader commercial offerings.
SIC CEO Azhan Shafriman Hanif said the circuit is finalising a 10-year business plan aimed at unlocking the commercial value of its 303-hectare landbank. “Currently, we only use about half of the land during major international events. The rest remains underutilised. Our goal is to change that by bringing in investors to develop hotels, motorsport facilities, vehicle storage, attractions, and F&B outlets,” he explained.
One of the main hurdles had been unresolved land tenure. While the Finance Ministry took over SIC’s facilities from Malaysia Airports Holdings Bhd (MAHB) in 2009, ownership of the land remained with MAHB, complicating lease agreements.
“Investors often asked, ‘Who do we sign the lease with?’ and we couldn’t give a clear answer. With the sub-lease agreement now moving forward, we’ll finally be able to offer long-term leases and open the door to investment opportunities,” Azhan said.
Appointed CEO in April 2020, Azhan’s early leadership was marked by crisis management as Covid-19 halted large-scale events, SIC’s main source of revenue.
“It was extremely challenging. We couldn’t cut jobs or salaries since we’re under the Finance Ministry and Youth and Sports Ministry. Instead, we had to trim allowances and pause overtime,” he recalled.
Recovery and growth
The turning point came in 2023 when SIC returned to profitability, driven by the comeback of international events such as MotoGP. “That year was a milestone. In 2022, we had just six months to prepare for MotoGP after borders reopened in April, but we managed to pull it off. 2023 was when things really started to change,” he said.
Looking beyond motorsports, Azhan aims to transform SIC into a lifestyle destination with better amenities for visitors and staff. A small but meaningful step was the launch of a lakeside café, currently the only F&B outlet within the compound.
“It may seem minor, but before this, staff and visitors had to leave the circuit just to get lunch. We need more eateries, convenience stores, and family-friendly facilities so people can come here to relax, not just watch races,” he said.
Plans are also underway to develop commercial plots for local F&B brands and convenience outlets to serve event-goers, employees, and nearby residents.
While SIC no longer hosts Formula 1, it has established itself as a thriving motorsports and entertainment hub, with bookings for events extending well into next year. The recent Super GT drew over 78,000 spectators, boosted by a tie-up with the Nihon Matsuri festival.
Azhan said SIC’s strategic location near Port Klang and KLIA positions it uniquely as a regional hub for motorsports, lifestyle, and automotive events. “Take an auto show, for instance — not only can people view the cars here, but they can also test-drive them on the track. That’s something you can’t replicate on normal roads,” he said.
Looking ahead, SIC has lined up concerts, exhibitions, and conventions for the year and is in talks with organisers for new events in 2026. Among the highlights is the Malaysian Festival of Speed in September, featuring drift competitions and a karting slalom.
