The Minister of State for Trade and Industry S Iswaran said, "an F1 race is a major financial undertaking for any business venture. It will require the Government's financial and other support to be commercially viable.
"The Government is willing to support such a venture up to a level commensurate with the broader benefits to the economy."
The sport’s commercial rights holder Bernie Ecclestone is reported to be in talks with two parties over a proposed Singapore race and no deal has yet been agreed.
