Petronas commemorates 10 years in Formula One, Kicks off promotional activities for 2005 Malaysian Formula One Grand Prix

source: sauber-petronas.com

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.