SEPANG International Circuit (SIC) has confirmed that track rental rates will be increased by as much as 45% effective April 1.
According to NST, the new rate card will see track rental on weekdays for daytime sessions increase by 27% from RM55,000 to RM70,000, while weekend rates will go up by 32% from RM60,500 to RM80,000.
For evening sessions, the rental rates on weekdays will increase by 41% from RM55,000 to RM78,000, while weekend rates will go from RM60,500 to RM88,000, representing a hike of 45%.
The mentioned prices are inclusive of technical and medical personnel assistance, ambulances and car, cleaning services, security staff, and access to relevant facilities.
According to SIC CEO Azhan Shafriman Hanif, the price hike was to ensure that the FIA grade one standard circuit continues to operate at the “highest standards.”
“As part of SIC’s commitment to maintaining the highest standards in facilities and services, we have announced an adjustment to our track and facility rental pricing which will take effect on 1 April 2024,” said Shafriman.
“This decision was vital to uphold the quality of our facilities, enhance services and facilitate ongoing improvements that will contribute to a better customer experience.
“This advance notice was provided to ensure transparency and allow ample time for all clients and stakeholders to make necessary preparations.
“Rest assured that we are fully committed to facilitating a smooth transition for our clients and stakeholders,” he said.
In January last year, Shafriman was quoted as saying the increase was inevitable due to increasing operating and maintenance costs. SIC has not raised its rental prices since 2013.
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