Minister Mentor Lee Kuan Yew has been musing that his government made a mistake in not building a Formula 1 race track back in the 1980s.
'I think I was dim-witted then,' he confessed, pointing out that popular culture has helped others bring in the dollars. 'But I learned a lesson, and I'm telling my younger chaps, look, pay attention to all this, this is what will make Singapore buzz,' he said.
When Mr Lee admits making a mistake, everyone listens, and the word on the street is that the city-state could try to create a street circuit that would give Monaco a run for its money.
The idea has been raised at a time when the government is doing all it can to create a buzz and break Singapore free from its stereotyped image of an unexciting, controlled city. Some people have already pointed out that a bid for a track would need to clearly state that the electronic road pricing system and speed cameras would be turned off for the race.
From the Esplanade's spiky domes to a yet-to be-built iconic integrated resort, from the Padang, past the Raffles Hotel, an F1 street circuit could be the ultimate way of promoting Singapore to millions of potential tourists via television.
Of course, such a circuit would not come cheap, at up to US$30 million a year for the set-up and US$15 million a year in rights to stage the race. Then, there is the fact that F1 ringmaster Bernie Ecclestone will have to give the green light. So far he has seemed to dismiss the idea, saying there were no dates available in the calendar.