CIMB has officially pulled out its sponsorship of the Colour Run which is still set to proceed this weekend, without a sponsor.
A spokesperson from IMG has confirmed the bank’s withdrawal, with the following statement to Marketing: “While CIMB’s withdrawal is regrettable, it will not prevent us from operating a fun, safe and great event of a type and quality equivalent to events we have operated in previous years.”
According The Straits Times, CIMB withdrew from the event because several of its planned marketing and promotional activities for the event could not be carried out. The planned activities were halted amidst tests held to verify the safety of the coloured powder to be used in The Colour Run.
In a statement to The Straits Times, CIMB said: â€śDue to the extended timing of the testing period, CIMB Bank Singapore was unable to meaningfully activate and exercise our commercial rights and entitlements as a sponsor and in good time.â€ť
CIMB was the main sponsor for the event for the last two years.Â Still, despite the bankâ€™s withdrawal this year, participants will each receive the eventâ€™s T-shirt, bandana, wristband and temporary tattoo with the CIMB Bank logo branded on the items which could not be replaced in time, according to The Straits Times.
In July this year, the Singapore Police Force (SPF) and Singapore Civil Defence Force voiced concerns over the event and called for a safety testÂ before approvals for the event could be granted.Â The worry came following a report of an explosion from coloured powder occurring in a similar â€ścolour partyâ€ť in Taipei that led to the deaths of at least 10 partygoers.
The Color Run,Â billed as the “Happiest 5k on the Planet”, isÂ a five-kilometer, un-timed race in which thousands of participants, or â€śColor Runnersâ€ť, areÂ dousedÂ from head to toe in different colours at each kilometre.
Marketing has reached out to CIMB for comments.