A SUBSIDIARY of Singapore-listed Straco Corporation announced today it has signed an agreement to purchase the Singapore Flyer and will reveal plans for the iconic attraction at a later date.
Wu Hsioh Kwang, chairman of Straco Corporation, commented in a press release: “The Singapore Flyer is a defining Singapore attraction, and represents an exciting opportunity to expand our presence in the region and contribute to the Singapore tourism industry. As a Singaporean company, we are especially proud to add this unique icon to our portfolio of high-quality assets.”
“Future plans for the Singapore Flyer will be shared when Straco Leisure officially takes over,” he added.
Straco Leisure is a joint venture company between Straco Corp subsidiary Bay Attractions and WTS Leisure, with a focus on attractions and tourism-related projects in China.
The Singapore Flyer is the company’s first attraction in Singapore.
Placed under receivership Ferrier Hodgson in 2013 or five years since it first opened, the Singapore Flyer was reported by local media to have been struggling to attract visitors.
