When Second Minister for Trade and Industry Mr S Iswaran said that Singapore was in "no hurry" to extend the Formula One race beyond its current contract, and that he would "like to see it continue on a mutually beneficial basis", I read that as SingaporeSpeak for "Got discount or not?"
I don't blame the Government if they are having second thoughts about staging the F1 night race here for another five years. It costs S$150 million (US$115.4 million) annually to stage the race, the Singapore Government foots S$90 million (US$69 million) of the bill (with taxpayers' money) and we rake in about S$100 million (US$77 million) in tourism each year from it. Full story
