Singapore's Fastrack Autosports Pte Ltd and Malaysia's UEM Land Bhd have agreed recently to jointly develop a motorsports hub spanning 109 hectares in Gerbang Nusajaya, southern Malaysia. The motorsports hub is said to contain an FIA certified race track as well as automotive retail showrooms, workshops, test track, and go-kart track within its vicinity.
Both companies will subscribe to a special purpose company called Crimson Carnival Sdn Bhd, with Fastrack Autosports Pte Ltd holding majority of its shares at 70 percent while the rest will belong to the government owned UEM Land Bhd.
Singaporean Billionaire Peter Lim, who owns Fastrack Autosports Pte Ltd, has a stake in McLaren Automotive and is a self-confessed car enthusiast. In some reports, he even expressed his excitement to test the track out with his car collection since the 1980's.
There is still no news on who will design the track but reports have been mentioning the duo of Hermann Tilke and Clive Bowen as the possible designer.
Start within six months and is slated to be fully operational by 2016.