The SIC Racing Team project took its first steps in 2010 with the support of the Sepang International Circuit, a track that has been part of the MotoGP World Championship calendar since 1999. The structure was created with the aim of promoting young Malaysian riders and giving them a platform to develop their full potential.

The SIC Racing Team had a presence in various championships such as the FIM CEV and the MotoGP World Championship (in the 125cc and Moto3 classes), with three podium finishes in Moto3 between 2015 and 2016 as results of particular note. The Malaysian structure took another step forward with a move up to the Moto2 World Championship in the 2018 season.

The SIC Racing Team structure expanded in 2019, joining the MotoGP World Championship as a Yamaha satellite team and giving Malaysia a team in the premier class for the first time in history. The team was represented by two young motivated riders, Franco Morbidelli and Fabio Quartararo, both riders contesting on board Yamaha YZR-M1s following an agreement between Sepang International Circuit and Yamaha Motor Co., Ltd. The season was a remarkable and surprising debut for the team, taking six poles and seven podiums courtesy of young star Quartararo and securing the Independent Team Rider’s title.

In 2020, the team retained its rider line up and switched to the new 2020-spec YZR-M1. The Petronas Yamaha SRT Team enjoyed a maiden victory at the Jerez opener with Quartararo, and the team would celebrate five more wins, with Morbidelli scoring three and finishing second in the championship. 

Nine-time Grand Prix World Champion and one motorcycle racing's greatest riders, Valentino Rossi, joined the team in 2021, partnering Franco Morbidelli, with the latter scoring the team's best result of the season in third.

For 2022, the team is now running under the WithU Yamaha RNF MotoGP Team, bringing in legendary rider Andrea Dovizioso, who raced for the team in the final five rounds of 2021, and Moto3 graduate Darryn Binder.