SEPANG (THE STAR/ASIA NEWS NETWORK) - The Formula 1 race could return to Malaysia one day if economic conditions are favourable, says Datuk Seri Najib Tun Razak.

The Prime Minister said hosting the race had been a case of diminishing returns for the country in recent years.

"Because of that, its economic viability became less attractive and we decided to review and terminate it," he said.

"But that doesn't mean we can't reconsider it at some point of time in the future, provided economic returns are favourable to us," added Najib, who spoke to reporters at the Sepang International Circuit here on Sunday (Oct 1).

He added that hosting the F1 race had raised Malaysia's profile and also allowed Petronas to showcase its involvement as a multinational oil company.

Najib said among his most memorable moments was when Mercedes-AMG Petronas Formula 1 team came in first and second in the race in 2014.