By Nisha Ramchandani

(SINGAPORE) Singapore GP (SGP), the Land Transport Authority (LTA) and Singapore Tourism Board (STB) rolled out an elaborate traffic and transport management plan yesterday for the Formula One race, aimed at keeping commercial disruption to a minimum.

Still, some stakeholders in the area are worried that business could be hit or sales may not meet expectations - much like during the 2006 International Monetary Fund (IMF) and World Bank meetings.

The traffic management plan involves a series of road closures in the Marina Centre area from Sept 20 to Oct 2 in three phases for the setting up and subsequent dismantling of race infrastructure, as well as to facilitate the race itself.

Traffic capacity on major roads leading to the ones that will be closed is expected to decrease by 30 per cent, which will undoubtedly give rise to traffic congestion and delays.

BT understands that some stakeholders were hoping to receive compensation, but STB's Aloysius Arlando, who is on the committee in talks with stakeholders, told BT that compensation was not on the cards based on the 'economic spin-offs'.

Engagement of some 5,000 stakeholders began as far back as November last year. The stakeholders consulted include landlords and building owners, key operations personnel as well as tenants.

Business continuity was one of the factors considered in developing the plan.

Stakeholders have expressed concern about a repeat of the IMF event, Mr Arlando said, but he pointed out that while the IMF and World Bank meetings were bound by strict protocol and heightened security, the F1 race is not.

During the IMF and World Bank conferences, retailers and restaurants were expected to rake in bumper takings, with organisers forecasting $50 million in tourism and retail receipts.

However, experience proved otherwise.

Commenting on the engagement of stakeholders, Mr Arlando said: 'We are fine-tuning plans to iron out rough edges, such as stakeholder access for guests and guests of tenants in offices.'

He hopes to wrap up the discussions by end July, August at the latest.

Feedback from hoteliers was also taken into account. For instance, hotel guests will be given an F1 decal upon check-in which will ensure access into certain areas when travelling by taxi.

Michael Roche, executive director for SGP, acknowledged that hotels could see a loss in potential revenue from hotel amenities such as spas during the race weekend when hotel guests will be at the race circuit most of the time.

SGP is in talks with retailers in malls such as Marina Square, Suntec City and Millenia Walk to establish joint promotions and extend operating hours of outlets to attract customers.

One of the exit points at the circuit - Gate 7 - will lead up to 30,000 people directly to Marina Square. Some still fear a potential lull for F&B outlets, retailers and hotels in the area as the restricted access and traffic congestion may deter visitors.

'There will be some lows in the pre and post- race period but we're hoping there will be pluses too,' said Mr Roche.

For those affected by the road closures and diversions, preparation seems to be the name of the game. European bank UBS, which maintains 1,000 employees at its Suntec City office, will be implementing initiatives to cope with logistics.

'Measures include working from home and from our alternative office locations. Staff will also be given flexibility in work arrangements to avoid peak hour congestion,' said chief operating officer Teo Lay-Sie.

Cheryl Ng, public relations manager for trackside hotel Pan Pacific, also believes that planning is one way to tackle the inconveniences that may arise.

'With proper planning, we can anticipate that there will be minimal disruption to the hotel guests,' she said.

The chief executive of Suntec Singapore, Pieter Idenburg, said that lessons learnt from past experiences have been beneficial and that any existing kinks will be ironed out in the future.

'The ensuing years will allow us to make further improvements by the time the next race zooms into town.'

This article was first published in The Business Times on 4 July 2008.