TODAY marks the 15th edition of the Formula One Petronas Malaysia Grand Prix. And the driver who receives the chequered flag at the world renowned Sepang F1 circuit sometime this evening may even have the honour to create some sort of record.

Ever since Malaysia was put on the F1 map in 1999, there have been some notable moments on race day.

For example, it was here, in 2003, that Kimi Raikkonen scored his first F1 victory. And he is currently the No. 1 ranked driver this year.

Lewis Hamilton, Nick Heidfeld and Jenson Button have one thing in common. It was here that they clocked their fastest laps, in 2007, 2008 and 2009 respectively.

While the humid conditions here supposedly contribute to drivers sweating off up to 3kg of body weight during a race, the weather can be just as unpredictable.

It was in 2009 that the race was declared over after 31 laps because of torrential rain.

The Malaysian presence in F1 did not begin at Sepang in 1999, but went slightly way back, to 1996, when Petronas tied up with Red Bull, racing team Sauber and Ferrari to develop an F1 engine.

The involvement of Petronas meant that many Malaysians, especially engineers, benefited from the overseas experience.

For Malaysians, it was indeed a proud moment to savour as we watch a Malaysian icon zoom by on our TV screens. But it was when we welcomed the world to our state-of-the-art Sepang circuit in 1999, that we knew we had arrived.

Although there were critics who questioned why we would want to play host to one of the biggest sporting events in the world, the world stood up and paid attention.

For Malaysia, whenever the F1 race is in progress, global viewers are not only witnessing a race in one of the best F1 circuits in the world, but are constantly reminded that this is happening in Malaysia.

In terms of public relations and advertising, the returns are tremendous. And the economic spin-offs are obvious. We have gained more from F1 than what we have spent hosting it.

But much has happened in the F1 calendar since. Our neighbour down south, which probably felt sore that Malaysia got on the F1 map ahead of them, now has its own night race.

The reality check for us now is that the current contract, if not renewed, will mean that the last F1 race in Sepang will be in 2015.

The F1 is not just the race itself. In fact, it is not even the main income earner. The real big bucks for the host country is in the tourism spin-offs.

And this is where we need to relook our strategies. We need to get the local fans out in full force. And they also need to be a part of the overall “big party”, which is what F1 week is all about.

World-class entertainment should be brought in without the organisers having to worry if certain quarters might object to their presence. And stakeholders must work together to welcome F1 fans from overseas and make them stay a little longer to enjoy our lovely country.

It will be real boost if we can have a Malaysian F1 driver out there competing against the best, and hopefully be up on the podium one day.

These are the issues that Malaysians will have to bear in mind when negotiations with the F1 authorities begin towards the end of the year.

In the meantime, let’s sit back and enjoy the race.

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