Fox Hill: A Formula to earn Forex! – By Prof. Samitha Hettige

April, 22, 2024

While SL was still a British colony legendary Sri Lankan Engineer T.S. Jinasena (of Jinasena Engineering est. 1905) assembled the first ever racing car in SL (The Magpie) & became the first Sri Lankan to set a record at the ‘Mahagasthota’ Hill Climb (1939). With support from his sons Nihal, Rohan, Ranjith & Tissa he later contributed to earn forex to save the crisis hit national economy during the 30 year conflict through never before ventures such as solid tyre production. It later won the recognition of global giant ‘Michelin’ (Ref. Jinasena Story). Before the Jinasena story, in 1913 British Soldiers marked a shape of a Fox on a hillock in ‘Diyatalawa’ thus creating the ‘Diyatalawa’ Fox Hill’ legend. The tragedy which took place on 21st April should be an eye opener to all. At a time when the country is in an economic crisis, locations such as ‘Mahagasthota’ & ‘Diyatalawa’ should be upgraded to attract international events to stabilize the country with forex earnings.

Soon after ending the 30 year violent conflict in 2009 Sri Lankans were into ‘Night Racing’ in Colombo & Kandy. Many had various views expressed & it could have been more progressive if the enthusiasm was guided by development oriented professionals in more organized manner to promote tourism, generate employment & attract forex. Nothing is too late & such ventures can be implemented in either Hambantota District or at any location with space & connectivity.

A lesson from China

On April 21st 2024, Max Verstappen (Red Bull) won the Chinese Grand Prix. Lando Norris of McLaren won the second place. Red Bull teammate Sergio Perez was third (Ref. Chinese media). The event took place at the Shanghai International Circuit in Jiading, Shanghai. The circuit was the venue for the Chinese Grand Prix  since 2004.

The approx. 5 Sqkm Shanghai International Circuit was built as a joint venture between the state & the private sector at cost of approx 450 million USD to promote Shanghai city to the world. Jiading was chosen as it is closer to major car parts manufacturing facilities. Herman Tilke designed the track & associated buildings. Within 18 months approx 3000 workers completed the facility with viewing areas which can hold 30,000 spectators & the total capacity of in the circuit may go up to 200,000. Each ‘Formula One’ team has its own pavilion in a lake resembling the ancient ‘Yu Garden’ in Shanghai.

The Shanghai International Circuit is the first purpose built Formula One track in China. The circuit also holds many global events such as FIA World Endurance Championship & the Blancpain GT Series Asia. In 2011 it attracted ‘Audi’ in a sponsorship deal & was named ‘Shanghai Audi International Circuit’. After it signed an agreement with SAIC Motor, it is also known as the SAIC International Circuit (Ref SIC history). Sri Lankans should learn & try to change.

Photo: Max Verstappen on the Shanghai Circuit on April 21st, 2024.

(Views expressed are personal).

Video Story

Stock Market

Exchange Rates