140 kmph is a serious speed.
In Australia the most we got is 120kmph. except in Darwin where there is no limit.
Its normally not how fast you can drive to be a stud, because 80% of the cars are capable of reaching high speeds in little or more time.
Its just that the faster you go the harder it gets to control the car in case of emergency.
As for tyres , i will suggest to change the general tyres ASAP to a better company (korean or jap dosent really matter) and atleast get Size 15 tyres + rims because size 14 is simply too small for a corolla.