Kuala lumpur: After weathering the financial strain due to the COVID-19 pandemic, the Sepang International Circuit (SIC) is charting a new growth trajectory, anchored by land monetisation, strategic investments, and expanded commercial offerings. SIC chief executive officer (CEO) Azhan Shafriman Hanif said the circuit is finalising a 10-year long-term business plan to unlock the commercial potential of its 303-hectare landbank.
According to BERNAMA News Agency, Azhan Shafriman stated that currently, only about 50 percent of the land is fully utilised during international events, with the rest remaining idle for much of the year. The plan involves bringing in investors to develop hotels, motorsport facilities, vehicle storage, attractions, and food and beverage outlets. A longstanding issue of unresolved land tenure is nearing resolution, which will enable SIC to negotiate long-term leases and unlock investment opportunities. The land, although managed by the Ministry of Finance (MOF) since 2009, is still owned by Malaysia Airports Holdings Bhd (MAHB).
Azhan Shafriman, who assumed his role in April 2020, faced significant challenges with the onset of COVID-19, which temporarily halted all large-scale events – SIC’s main revenue source. Despite the inability to lay off staff or cut salaries, SIC managed to navigate financial hardships by tightening allowances and pausing overtime. This period also allowed SIC to address legacy issues, such as resolving tax matters and upgrading a neglected sewerage treatment plant.
In 2023, SIC achieved profitability for the first time since the pandemic, spurred by the return of international events like MotoGP. The CEO recalled the challenges of preparing for the 2022 MotoGP season with just six months’ notice after borders reopened in April. Beyond motorsports, SIC aims to evolve into a lifestyle hub, beginning with the opening of a lakeside caf©, the circuit’s first food and beverage outlet.
Azhan Shafriman detailed ongoing discussions to develop commercial plots for local F and B brands and conveniences to benefit event-goers, staff, and local communities. SIC’s operations have a spillover effect on surrounding small traders and communities, supporting both sports and tourism in Sepang.
Although it no longer hosts Formula 1, SIC has grown into a vibrant motorsports and entertainment venue, with a busy calendar extending well into the next year. Events like the recent Super GT, which attracted over 78,000 spectators, highlight its popularity. Last year, SIC saw 200,000 to 300,000 attendees across various events, with offerings expanding beyond motorsports to include music, food, and lifestyle activities.
Azhan emphasized SIC’s advantageous location near Port Klang and Kuala Lumpur International Airport, positioning it as a regional hub for motorsports, lifestyle, and automotive events. The circuit has lined up several concerts, exhibitions, and conventions for the year and is courting new events for 2026. The upcoming Malaysian Festival of Speed (MFOS), featuring drift events and karting slalom, is set for September.
With MotoGP as its flagship event, SIC’s strategy involves anchoring international races while attracting local fans through diversified offerings. The aim is to maintain a full calendar of major events to remain relevant and thriving, regardless of hosting Formula 1.