The Merlion Cup, the invitational basketball tournament which is being held in Singapore for the first time since 1996, will go on for at least the next two years.
Basketball Association of Singapore president David Ong called it a "great success", saying: "We've seen healthy attendances throughout the tournament.
"We would like to take this forward for sure, not just to have a one-off (tournament). But we also want to make sure it will not be for only the next two years; we want to make this an iconic marquee event on our calendar."
Singapore hosted five Asian teams this year, with the organisers keen to invite more teams from beyond the continent.
Ong said: "We would like to see how we can get this tournament to scale up - by getting teams from Europe, the Americas and even from Australia and New Zealand to come and add some new flavour."