Formula One race a key contributor to sports industry

"It not only brings in tourism dollars but also acts as a catalyst in tying together all aspects of the supply chain.

"From the dedicated mechanics tweaking their customers' Proton engine for their next local race to major brands like Petronas, AirAsia and Naza leveraging on the sports marketability of the F1," said Ahmad Shabery in his speech at the official launch of the 2013 Petronas Malaysian F1 Grand Prix, tonight.

Malaysia will host the second round of the season's 20-leg FIA Formula One World Championship from March 22 to 24 at the Sepang Circuit.

The new season opens with the Australian Grand Prix from March 15 to 17 at Albert Park in Melbourne.

Also present at the ceremony were former Prime Minister Tun Dr Mahathir Mohamad and his wife, Tun Dr Siti Hasmah Mohd Ali; Mayor of Kuala Lumpur Datuk Ahmad Phesal Talib; Petronas president and CEO Tan Sri Shamsul Azhar Abas and Sepang International Circuit (SIC) chairman Datuk Mokhzani Tun Mahathir.

He added that a study by PricewaterhouseCoopers Capital Sdn Bhd indicated that the 2011 Malaysian F1 Grand Prix generated total economic activity of approximately RM385 million, which means a return of about three times the government's investment in F1.

At the ceremony, the race title sponsor, Petronas and the event promoter and organiser, SIC launched a special 'One Ticket Unlimited' (1TU) package to provide fans with a host of privileges for them to enjoy the event in March.

Earlier, Mokhzani in his welcoming speech, said apart from being a passport for additional discounts at the 1Malaysian GP Sale 2013 in March, 1TU would also provide the ticket holders a host of other privileges to enjoy the 2013 event. With the special package, all the grandstand ticket holders will have access to the F1 after the race concert featuring the legendary rock band, Guns N Roses on March 24 for free.

Meanwhile, those with the hillstand tickets will have to add minimum RM120 to catch the legendary rock band performance.

"The 1TU is also a passport for additional privileges including premium packages for transportation with ERL or Skybus, F&B voucher, together with an exclusive 15th years anniversary merchandise as well as additional discounts during the month-long 1Malaysia GP Sale 2013 for certain category of tickets," said Mokhzani.