FAENZA, ITALY, August 29, 2001 -- European Minardi F1 is today pleased to announce that Magnum Corporation Berhad has become a major sponsor of the team. The Kuala Lumpur-based company, whose primary business is operating Malaysian four-digit ...
FAENZA, ITALY, August 29, 2001 -- European Minardi F1 is today pleased to announce that Magnum Corporation Berhad has become a major sponsor of the team. The Kuala Lumpur-based company, whose primary business is operating Malaysian four-digit numbers forecast betting, was initially exposed to Formula One as an enthusiastic backer of Alex Yoong's efforts to gain an FIA Super-licence and thus become the first Malaysian driver to compete in the sport. Yoong's quest came to a successful conclusion earlier this week, when he was informed that he had been granted the all-important racing licence and would be driving for European Minardi in the final three rounds of the 2001 World Championship. As a result of its involvement with Formula One, Magnum Corporation Berhad has decided that the high-profile exposure and associated promotional potential associated with Grand Prix racing will provide an ideal platform for its future marketing activities. The company's distinctive yellow "M" logo will therefore feature prominently on the European Minardi F1 entries for the remaining races of the current season and throughout next year.
Magnum Corporation Berhad was incorporated in December 1968, and was the first private company to be granted a licence to promote, operate, and manage four-digit numbers forecast betting in Malaysia. It was converted to public ownership in 1970, and was subsequently listed on the Kuala Lumpur stock exchange later that year. Today, Magnum Corporation Berhad is principally engaged in the gaming business, being the pioneer and market leader in the Malaysian authorised gaming industry, but is also involved in property and leisure, overseas investments, printing and information technology.
LIM TEONG LEONG, Executive Director, Magnum Corporation Berhad "I'm very happy to see how well Alex is doing with the European Minardi team. Magnum Corporation Berhad wanted to do all it possibly could to support his bid to make it to Formula One, which is what all Malaysians were hoping for, and now we have made it. I would like to say good luck to Alex and European Minardi - we are all behind you and willing you to succeed."
PAUL STODDART, Team Principal, European Minardi F1 "We are pleased and proud to welcome Magnum Corporation Berhad as a significant commercial partner of European Minardi F1. This is excellent news and comes as a direct result of the company's support of Alex Yoong's efforts to enter Formula One. Mr Lim and his colleagues at Magnum Corporation Berhad have been able to see for themselves the unique marketing opportunities provided by the sport in general, and by European Minardi in particular, and decided that these fit well with the company's marketing strategy. From a personal standpoint, it is pleasing that a major corporation has understood the strong potential of our team and seen fit to invest at an early stage in a programme that we intend will take European Minardi F1 to a notably increased level of competitiveness within three years."