Malaysian-backed Lotus Racing are eager to put on a crowd-pleasing show at their first appearance on home turf this weekend, after respectable performances in Bahrain and Melbourne.

"For us it is our first homecoming race in Malaysia. It is a crowd I like. I'd like to have a good race this weekend," Lotus driver Heikki Kovalainen told reporters ahead of Sunday's event at the challenging Sepang circuit.

While the team have yet to score any points, the Finn managed to finish both races in Bahrain and Australia.

Veteran Italian team-mate Jarno Trulli also completed the opening Bahrain Grand Prix, before retiring in Melbourne.

Both drivers believe the team needs time to demonstrate the car's real potential, as the storied Lotus name returns to Formula One for the first time in over a decade and looks to emulate its 1960s heyday.

"We need time to grow and get the team to function 100 per cent," Kovalainen said.

"Once we reach 100 per cent then we can compete with the other teams. We have a strong engine and a strong gearbox."

Trulli added: "We have to go step by step. So far it has been extremely successful."

The Lotus operation is backed by Malaysian money and led by Tony Fernandes, the head of AirAsia, Southeast Asia's budget carrier.

Maxis, the biggest mobile phone operator in Malaysia, has emerged as the team's latest sponsor along with Tune Group, Proton, Naza and CNN.

"There is money in the sponsorship. It is a firm one-year sponsorship with long intentions," said Jean Pascal Van Overbeke, Maxis's chief operating officer, declining to say how much money the company was putting up.