He was hooked on karting after discovering it last year when he came across an ad about the inaugural Singapore Corporate Karting Challenge (SCKC), held at and organised by Kartright Speedway, the only karting facility in Singapore.
Mr Lim Chung Chun, CEO and chairman of iFAST Global Prestige, a financial investment platform for high net worth individuals, was one of the drivers for the two teams that the company sent.
“I’m new to karting and it was my first time racing last year. Through that experience, I realised that a lot of people don’t understand what karting involves and think it’s just a small group of people going racing. It’s actually a very good way of networking for business associates, bonding for employees and it is a healthy sport for keeping fit,” says Mr Lim at the launch of the iFAST Singapore Corporate Karting Challenge 2012.
I just realised that I raced against Mr Lim Chung Chun at last year’s OCBC Corporate Karting Challenge!
Found this photo of me overtaking him…
This year’s SCKC almost did not happen when OCBC Bank declined the deal to sponsor a second time.
However, it all turned out well when iFAST came onboard and inked a two-year sponsorship contract worth $250,000.
“The opportunity to become the title sponsor for the SCKC only came up about three months ago. I was actually in discussion with Kartright Speedway to plan a series of karting events for my company’s business associates. Then OCBC, last year’s title sponsor, decided not to come back and we found ourselves presented with this opportunity,” adds Mr Lim.
The main objective of the SCKC is to reach out to a different segment of the community and promote karting to the corporate world by offering them a respite from their stressful working schedules, taking them away from their desks and injecting excitement with some racing fun.
Retaining the same format as last year, a maximum of 12 teams will compete in a four-hour endurance race at each of the three eliminating rounds and the top four of each round will proceed to compete in the Grand Final at the end of the year.
Six drivers will form a team – of which two are reserves – but the difference this time is that five of the six must be a shareholder, director or legal employee of the organisation.
The reason behind this is to prevent companies from getting seasoned or professional drivers to represent them, so as to attract more of the masses and give everyone a more level playing ground.
“When we opened this track three years ago, we did expect that corporate karting will be significant but we never imagined that it would capture the attention of big companies the way it has. Today, our corporate client list includes government agencies and multi-national companies. Last year we had 30 teams, including an all-female team, who competed in this series and we are expecting a 20 per cent increase in participation this year,” says Dato’ Jude Benny, director of Kartright (Pte) Ltd.
There will be cash prizes for the Grand Final this year – $4,000 for the winning team, $2000 for the first runners-up and $1,000 for the second runners-up.
This has however, translated into a higher registration fee of $4,000 per team, up from $3,000 last year.
The registration fee encompasses the participation of the race (complete with usage of karts, tyres and fuel), four race suits and a pre-race karting clinic, but does not include the costs of licensing from the Singapore Motor Sports Association, training and race gear.
Registration for the SCKC opened on 2 May and will close on 15 June. The three eliminating rounds will be held on 14 July, 6 October and 20 October, with the Grand Final on 10 November.