BBC said:Singapore has started making plans to host a Grand Prix after new rules allowed the Formula One calendar to expand to a possible 20 races in 2008.
The south-east Asian island is already examining four proposals to stage races which would be held on a street course.
"The four bids are very, very good," Singapore Trade and Industry minister Lim Hng Kiang told the Today newspaper.
Spanish city Valencia, Greece, Russia and South Africa have also declared their interest in hosting a race.
Valencia eager to host F1 races
Mexico had also made plans to return to the F1 calendar while an Indian Grand Prix and a second race in the United States had been suggested.
The FIA introduced new regulations in Paris last month which gave the green light to a maximum of 20 races per season from 2008.
This season there are 18 races on the calendar after the Belgian Grand Prix was withdrawn to give organisers more time to make improvements to the Spa circuit.
Is this good news for F1 fanatics :think: