Petronas today commemorated its 10 years of involvement in Formula One, reflecting on a decade marked with significant value-adding developments and achievements resulting from its participation in the prestigious motor sport. In an austere yet...
Petronas today commemorated its 10 years of involvement in Formula One, reflecting on a decade marked with significant value-adding developments and achievements resulting from its participation in the prestigious motor sport.
In an austere yet very meaningful commemoration ceremony officiated by Malaysia's Prime Minister Dato' Seri Abdullah Haji Ahmad Badawi, Petronas also kicked off its promotional and community relation activities for the 2005 Petronas Malaysian Formula One Grand Prix in the continuous efforts to share its Formula One experience with all Malaysians.
Petronas first entered into the world of Formula One in 1995 in search of a powerful platform that would enhance and position its brand name globally to support its expansion into the increasingly competitive international oil and gas business.
The initial association with Formula One gave Petronas an unprecedented international exposure, enhancing the confidence of would-be investors and business partners and opened doors to worldwide business opportunities. In 1995, five years after it first embarked on its international expansion programme, Petronas had business interests in nine countries. Ten years later in 2005, Petronas operates in 35 countries.
In 1999, Petronas secured the title sponsorship rights for the Formula One Grand Prix to be held in Malaysia, further promoting its brand and putting Malaysia on the world map as a new venue for motor sports in the region, boosting the country's image as well as its tourism and hospitality industry.
For Petronas, Formula One also presented an opportunity for relevant technology acquisition and capability development, not just for the enhancement of its business performance but also for the benefit of Malaysia. Through its involvement in the sport, Petronas has successfully developed Malaysia's first automotive engine as well as Malaysia's first super bike. The E01e car engine, which has achieved the Euro III emission standard, is being further tested for commercial production. Limited edition units of the super bike, the Petronas FP1, are now available for sale worldwide.
The association with Formula One has also boosted Petronas' products' R&D capability, especially in fuels and lubricants development. Its Primax fuel as well as Syntium lubricants have been acknowledged and certified by renowned car manufacturers and international standards organisations. The Sauber Petronas Formula One cars use specially formulated Primax and Syntium. Petronas has also formulated an extensive range of engine oils that have exceeded international standards requirements.
Petronas' participation in Formula One has also helped nurture a core group of Malaysian automotive engineers which is very much in line with its commitment towards developing human resources and technological capabilities that will form an essential foundation for Malaysia to achieve a fully developed and industrialised country status. Some of these engineers are working for the Sauber Petronas Formula One team and Sauber Petronas Engineering AG in Switzerland.
Petronas is also using Formula One as a vehicle to inspire Malaysians, especially the younger generations, to be forward thinking, progressive, technologically savvy and disciplined to assist in the future development of the country. Through various promotional and community relation activities undertaken during the Petronas Malaysian Formula One season and throughout the year since 1999, Petronas has managed to bring the once exclusive and distant sport closer to all Malaysians.
In commemoration of its 10 years' involvement in Formula One, Petronas once again is organising a series of promotional activities that will commence tomorrow. These include the much-anticipated annual Formula One Demo, to be held in Kuala Lumpur, a special exhibition in Galeri Petronas at the Suria KLCC shopping Centre in Kuala Lumpur and numerous community relation and student activities that will take place leading up to the 2005 Petronas Malaysian Formula One Grand Prix on 18 to 20 March.