Singapore will remain on the F1 calendar for at least four more years according to the Singapore Trade and Industry minister.

The current contract for the annual night race comes to an end in 2012, although The Straits Times reports that Bernie Ecclestone has an option to extend that deal for a further five years.

However, even if that option isn't taken up by Singapore itself, the race would still run through to the 2014 season given that Singapore will need to serve notice to Ecclestone's Formula One Administration group if it wishes to end the deal.

Trade and Industry minister Lim Hng Kiang insisted that the 2010 race, which attracted visitor figures of around 40,000, had helped to 'brand Singapore as a premier lifestyle destination to a global audience' although he added that Singapore needed to carefully study all the information available before making a final decision on whether to extend its deal.

"The decision will be based on an assessment of the costs and benefits to the economy over the long term," he said.