The Penang Turf Club, Malaysia’s oldest thoroughbred racing venue, is set to stage its final meeting on May 31, bringing an end to the once-thriving sport in the city after 160 years.
An extraordinary general meeting slated for next month is likely to see the PTC wound up and its assets, including the valuable site in which it sits, sold off and the proceeds distributed to its members.
There are a small number of Australian racing industry figures who are among the PTC membership of just 520, which is set to vote on the immediate future of the club at the EGM on April 20.
It is almost certain that they will vote in favour of the dissolution of the PTC, although its general manager and secretary Leow Khin Ming did not wish to predict the outcome of the vote at the EGM, the second held on the matter.
If a resolution to end racing at Penang is passed - a similar motion was passed in July last year to proceed with a sale of the land - the members will be the financial beneficiaries of the sale of the racecourse site and club assets.
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