Leading executives to attend SGX-hosted motorsports summit

SGX teams up with leading motorsports marketing agency JMI to introduce contribution of sport to economy.

Leading executives from across Asia will converge on the Singapore Exchange on 24 September for the region’s first business conference with a view inside the motorsports industry.

The summit, “THE BUSINESS OF MOTORSPORTS IN ASIA” will feature Formula 1™ supremo Bernie Ecclestone. He will be joined by an impressive assembly of business leaders and government officials headlined by the Guest of Honour, Mr S Iswaran, Singapore’s Senior Minister of State, Ministry of Trade & Industry, and Ministry of Education.
The 2010 FORMULA 1™ SINGTEL SINGAPORE GRAND PRIX provides an opportunity to gather top companies and their executives to discuss the emergence of motorsports as a major economic contributor to the region.

“THE BUSINESS OF MOTORSPORTS IN ASIA will be a golden opportunity for business leaders in the region to capitalize on the momentum Formula One has brought to Asia and I’m looking forward to it,” said Ecclestone, President and CEO, Formula One Management and Formula One Administration.

“Asia has increasingly played an important role in Formula 1™ and has been at the centre of some innovative developments, like the first night race in Singapore. F1™ is a global sport driven by international business and the business opportunities for Asian companies through motorsports are expanding rapidly.”

“Led by Formula One racing, a sustained wave of motorsports-related investment and commercial opportunity has continued to build in Asia,” said Zak Brown, Founder and CEO of JMI. “We applaud the foresight of SGX to use this summit to provide Asian companies with a heightened awareness of this trend.”

With more than a quarter of Formula One World Championship races now currently taking place in Asia, both JMI and SGX believe the sport offers unprecedented exposure and business opportunities for the region’s key companies, according to an SGX report.

“SGX strongly believes that most businesses can learn from each other and their applicable best practices,” said Magnus Böcker, Chief Executive Officer of Singapore Exchange. “With Asia recognized as the market of the future, the economic impact of F1™ and the greater motorsports industry in this region is undeniable. We are hopeful that the summit will fuel stronger interests towards the motorsports business in Asia.”

Joining SGX and JMI in support of THE BUSINESS OF MOTORSPORTS IN ASIA are the Economic Development Board (EBD) Singapore, Singapore Tourism Board (STB), and Singapore Sports Council.