I wonder how this F1 comes into Najib's 1 Malaysia plan??
Or did he think just because that there is the No.1 there so he must get Malaysia and force all the top companies to join in his new pet project as well?!?
In a time when big companies like BMW have pulled out of F1 due financial constrain, is Malaysia having that much money that it can afford to throw more money away??
1st we got the PKFZ scandal which cost tax-payers hundreds of millions!
Then recently we threw away over BILLIONS of Ringgit on 2 submarine and some helicopters!
(from the stupid 24hour take over)
Now Najib wants to be the first country to own an F1 Team!
The USA, being the richest nation never had one. China is richer than Malaysia and don't have one. Australia is richer than Malaysia and don't have a team. Norway is richer than Malaysia and don't have one. Germany produces many good F1 drivers and don't have a German team now that BMW had withdrawn.
(I scan through the internet and put together some comments together that is worth reading on this issue!) Cost of an F1 Team!
In March, 2007
F1 Racing published its annual estimates of spending by Formula One teams.
Toyota $418.5 million, Ferrari $406.5 m, McLaren $402 m, Honda $380.5 m, BMW Sauber $355 m, Renault $324 m, Red Bull $252 m, Williams $195.5 m, Midland F1/Spyker-MF1 $120 m, Toro Rosso $75 m, and Super Aguri $57 million.
Engines alone can cost a whopping USD15mill/season.
R&D and Start Up cost is not included!!!
Team 1Malaysia F1 is supposedly sponsored by the big companies and TDC.
In Malaysia, big companies are either GLCs or linked to them. The TDC is government-run. So how can we say for sure that tax payer money don't get channelled to these. Surely companies like Air Asia and Naza won't dare to venture into such a risky venture without some financial backing. They would not dare risk their shareholders stake and working capital. So who will eventually bare the cost when/if the team make massive losses?!
What about the effect of forcing companies like Air Asia and Naza to sponsor this project?
Every sen spent goes somewhere - a basic principle of accounting. Advertising cost normally goes into the cost of sales i.e. the price that you sell to the customer. So if the ad cost go up, the cost of sales go up. So if Naza and Air Asia needs to maintain their profit margin, their cost of sales will go up. Meaning, the spare parts, the car service, new car price all will go up. For Air Asia, their ticket cost will go up. Or if they want to maintain the same cost of sales, then the cost of goods sold or sales/admin cost go down. So cheaper spare parts (lower quality), poorer service levels and cars with less options or lower quality finishing. For Air Asia, maybe Tune Hotels no longer have communal toilets inside. The guests have to go to public toilets or do it in the drains outside. Maybe, to board an AirAsia plane, you checkin at the fence along the tarmac and walk across the tarmac to the plane. Save the LCCT terminal charges.
Malaysian Maintenance and Management?
According to theStar 1 Malaysia F1 team will be manage by former Renault technical director Mike Gascoyne. While I respect the man I wonder will he get inteference from all the YB and VIP ini Malaysia!
Only time will tell or is he going to end up the same way as foreigners brought in to our badminton, hockey and other sports teams
Then will the lack-of-maintenance syndrome which Malaysia is so famous for be a plague to this team? Lets hope the car does not fall apart during the race! Can you imagine a front wing dropping off by itself?
Putting Malaysia on the Map!??
Our PM said that...
“This is a meaningful development and I hope that it will further raise our country’s profile on the world stage.”
Oh! I am sure this will raise our country's profile.... but will it raise our profile for the better or worst?
If we keep losing and the M'sian F1 team is not there to just make up the numbers, won't we become and embarrassment to the world?
Have we forgotten the embarrassment we felt when Malaysia hosted its first F1 race in 1999 at the Sepang F1 Circuit and Alex Yoong was the first Malaysian to race in the championships in 2001 and 2002 for Minardi. It was a total flop!!
What will happen then to the wind tunnel and all the billions of equipment and logistics which had been invested in Sepang?
Don't we remember PKFZ the "white elephant"?
Am I being negetive!?
I know ppl will shoot me that I am too negative!
But with so many false starts in the past and failling to follow through all too often, can you blame me for being so negative?? I am not saying that having a Malaysian F1 team is a bad thing, just that whether it is justifiable for us to have one??
I think the biggest question is still...
What is the relationship between 1Malaysia and the M'sian F1 team?
Is this the aspiration of the Malaysian rakyat??
Does the rakyat as 1 benefit from this project?
Don't we need the money to overcome the global crisis and make those fundamental changes. Eg. health, security, future development of our human resources, social programs. Can we guarantee (& be transparent) that such a venture will not degrade some of these programs that are sorely needed by the citizenry?
F1 can be enjoyed by those who can afford it but affordable healthcare, good security, future of our children etc, these should be something every rakyat be given!
I think the biggest joke is when Najib said that..
“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 Malay-sians,”
I died laughing! when I read this in the Star! Our Proton cars are still made in Japan and we want to make Made-in-Malaysia F1 Cars!!