Talks to extend hosting of F1 S'pore Grand Prix under way

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http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_802045.html

Talks to extend the Republic's hosting of the Formula One Singapore Grand Prix are under way but taking longer than expected.

This was confirmed by Second Minister for Trade and Industry S. Iswaran on Tuesday on the sidelines of the opening of the Marina Bay Cruise Centre.

His comments came just a day after the Formula One Group reportedly received the go-ahead by the Singapore Exchange for an initial public offering worth at least US$2.5 billion (S$3.18 billion).

'It is a process that is taking longer than we had anticipated but we hope that we can arrive soon at a mutually acceptable outcome.'