KUALA LUMPUR — Youth and Sports Minister Hannah Yeoh has expressed hope for more tax incentives in the future to encourage greater corporate investment in Malaysian motorsports.
She said that government funding alone is insufficient to sustain the sport’s development.
Speaking at a partnership ceremony between CIMB and rising motorsports talent Amer Harris Jefry today, Hannah called on the private sector to take on a more active role in supporting motorsports at all levels.
“I hope we can roll out more tax initiatives and incentives for the corporate sector to invest in sports,” she said, Bernama reported.
While the Youth and Sports Ministry (KBS) has allocated RM5.6 million to motorsports this year, Hannah noted that the funding still falls short of what is needed to grow the industry.
Of the total, RM1.9 million was channelled to the Motorsports Association of Malaysia (MAM), RM450,000 to state youth and sports departments, and RM3.2 million to clubs and associations at the state level.
“We have a lot more work to do, and like I said, RM5.6 million is hardly enough. This is why we encourage the corporate sector to come in,” she said.
Hannah’s remarks come amid growing calls for more structured support for niche sports in Malaysia, particularly those with commercial and international potential such as motorsports. — May 27, 2025