It would seem that Malaysia is once again, in the words of our Prime Minister Najib, raising its “profile on the world stage” by having it’s own team in Formula One next year. The first thought that hit me was this - if BMW has decided to wind down its Formula One Team after just four seasons in order to focus the resources that had been expended on the company's F1 program to the "development of new drive technologies and projects in the field of sustainability" why oh why must this fool rush in where angels fear to tread?
Here are the other headlines news that is relevant to this issue – relevant because it only serves to complicate matters and again confirm that the usual suspects are involved – Politics, ‘big business’ well known personalities and taking money from the Rakyat:
- “This is where the cars will be designed, manufactured and tested. It will be ‘Made-in-Malaysia, by Malaysians’ and of course, the pit-stops will be run by Malaysians,” he said. Najib.
- The company behind the team is a partnership between the Malaysian Government and a consortium of Malaysian entrepreneurs.
- The FIA has announced that a 13th slot has been awarded to the Malaysian-backed Lotus F1 Team. The BMW entry remains undecided, which means that Lotus will have to build its cars in England.
- The team will almost certainly be buying the Sauber operation in Hinwil and it is anticipated that the engines will be Ferraris.
- It will be announced later today that the Malaysian government will be funding a Formula 1 team in 2010 and that the entry has been granted.
- It is believed that the team will be funded by the automobile company Proton and will probably be called Team Lotus and be backed by Petronas money.
- “Our F1 team will also have technical experts from outside Malaysia to ensure that we are ready to compete on the world’s most prestigious racing stage.”
- Nicolas Todt, the son of FIA Presidential candidate Jean Todt, who is a partner in ART Grand Prix, the GP2 team that won the title last weekend with Nico Hulkenberg. Todt has the ambition to run an F1 but only in the right circumstances. His father in well connected in Malaysia thanks to his partner Michelle Yeoh.
- The company behind the team is a partnership between the Malaysian Government and a consortium of Malaysian entrepreneurs. The team will initially be based at the RTN facility in Norfolk. RTN was built by Toyota for its initial Formula One programme and then used by Bentley for its successful Le Mans programme.
- The team's future design, R&D, manufacturing and technical centre will be purpose built at Malaysia's Sepang International Circuit.
- The team's technical director will be Mike Gascoyne. The team has agreed an engine supply deal with Cosworth and a wide variety of technical partnerships.
The usual suspects were paraded. Funded by Proton and backed by Petronas money. Funded by the Government!
Is this going to be another MV Augusta situation? Has not Proton learned a lesson from its disastrous Euro 70 million ‘investment’ in MV Agusta then under administration which was explained to us layman as being Protons mother of all business coup to enable Proton to “tap into MV Agusta group’s styling ability; technical expertise and well-developed distribution network” as Proton then CEO Tengku Mahleel was quoted as saying in June 2004.
Less then a year later Proton sold their 59% stake in MV Agusta for One Euro and yet a year later Harley Davidson Inc bought MV Agusta for US109million.
Logic tells me that if BMW lasted four years in Formula One – how long will we last? I say WE because if Proton and Petronas money are involved then it is OUR money –and we should have a say in whether we should go into Formula One or not. The other “investor” has all made their money off the Rakyat in those few short years that they have been in “business”.
It is no great secret that Formula 1 is a sport for the rich and money is the only master of the game. Dollars are counted in the hundreds of millions. Do we need the distraction of Formula One seeing the state our country is in? Why not use whatever money Proton has now to give us a better and cheaper car that more Malaysians can afford to buy? Why not use Petronas money for Malaysian. The people of Kelantan could use some money now. There are enough poor in Malaysia that would have need of the money that Petronas will spend on Formula One. But as usual our Government will not allow the loss of hundreds of our millions of Ringgit to get in the way of raising THEIR profile on the world stage.
More 'Rakyat Money'will down the drain with this Najib F1 ventures..... lagi satu projek klentong rakyat dari UMNO/BN !!
Well said , Sir.ReplyDelete
This is what we call "People First, Performance Now"....the UMNO way. But wait a minute...was it not Najib who said that "the days when the government knows best is over".?
Trust me, it is not over. And it is more like "People Last, Mediocrity Now." But never mind, someone is going to laugh all the way to the bank out of this 1M F1 Racing Team. And rightly so, at the expense of OUR money. Forget the rakyat. Sigh...it really sucks.
(Quote)Why not use whatever money Proton has now to give us a better and cheaper car that more Malaysians can afford to buy? Why not use Petronas money for Malaysian. The people of Kelantan could use some money now. There are enough poor in Malaysia that would have need of the money that Petronas will spend on Formula One. But as usual our Government will not allow the loss of hundreds of our millions of Ringgit to get in the way of raising THEIR profile on the world stage(Unquote)ReplyDelete
It has nothing to do with profile. They need a reason to 'siphon' money out. Watch for all the consultant contracts, marketing contracts, catering contracts, lawyers fees, enginerring fees, etc etc etc.....probably non breakable 10 or 20 year contracts.
They need a 'reason' to get money out !!!
If it costs Toyota USD 400 or 500 million a year to run a F1 team, 'Last Malaysia' F1 team will prob costs us USD 800 to 900 million. We have to 'pay' for CONsultants !!!!!
Somebody should tell Pakatan to use this issue to whack BeeEnd in Bagan Pinang.ReplyDelete
Tell the Bagan Pinang poor, u guys already suffering like crazy but our govt still have USD 400 million to burn away just like that.
Worse I think instead of raising our profile, I think we will b the laughing stock of the entire F1 circus. Watch us finish last every race !!!!
Najib So Hai!ReplyDelete
Here we go gain "1 Malaysia, peoples 1st, performance now." Sure it is ... 1malaysia F1 team, my people first, performance car now.ReplyDelete
While the rest of the world are rebuilding the nation economy, Malaysia is advertising it's country to the world ... no worries, with such advertising expenditure, Malaysia economy will be on the rising side again, what an ingeneous plan. Multinationals does that, the like of McDonald's, Shell, IBM, HP, etc advertising expenditures.
I just love our country top economic group of advisors including the Finance Minister, they are thinking outside the box. Unfortunately, it's just outside a match box waiting to light the fire.