As per the media reports, the Ferrari dealership has been lost by Hong Seh Motors, which has been representing Ferrari in Singapore for the past 25 years; and the company will give up the dealership by middle of this month.

A spokesperson from Ferrari Asia-Pacific, Matteo Bonciani, said that next week would see the revelation of the new dealer, which will then officially launch the Ferrari California for the Singaporean market.

The spokesman also mentioned that the battle for dealership would be now be between Komoco and Premium Automobiles. While Komoco is run by Ong Beng Seng, the man behind the Singaporean Formula 1 Grand Prix; Premium is owned by Indonesian businessman Hadi Tanaga, who also holds Audi's dealership in Singapore.

Over 120 bookings for the Ferrari California have been received by Hong She. It should be noted that the official pricing of the Ferrari California has not been released yet, and has put forth by Hong She that it is returning the S$50,000 deposit for the convertible to each owner.