(Singapore, July 21, 2020) The announcement of Singapore Flyer’s reopening on Thursday has been accompanied by a stock price increase from its operator’s mainboard-listed Straco Corp today.
After Straco Leisure, an arm of Straco Corp, announced today the Ferris Wheel’s reopening plan, the latter’s share price was up by nearly 1% to reach S$0.52.
The iconic giant observation wheel will operate on Thursdays to Sundays and on public holidays, from 3 pm to 9 pm.
Visits are limited to five guests per group, Straco Leisure said in a press statement.
Each capsule will host no more than seven persons at a time. After each rotation, guest-occupied capsules will be disinfected before the next group boards.
Launched in 2008, the Singapore Flyer is one of the world’s largest Observation Wheels standing at 165m tall.
Visitors can enjoy a panoramic view of the Marina Bay and city skyline with glimpses of neighboring Malaysia and Indonesia.
On 28 August 2014, Straco Corporation announced its subsidiary Straco Leisure Pte Ltd (Straco Leisure) had entered into an agreement to purchase the business and assets of the Singapore Flyer.
Ownership of the Singapore Flyer was officially transferred to Straco Leisure on 28 November 2014.
Straco Corporation was listed on the Mainboard of the Singapore Exchange on 20 February 2004. Since then, the Group has been one of the first few foreign companies that has managed to build up significant presence and influence in the tourism industry in China.
In addition to the Ferris Wheel, Straco also runs the Shanghai Ocean Aquarium, Underwater World Xiamen in China’s Fujian Province, and the Lixing cable-car service located at the scenic Mount Lishan in Xi’an, the capital city of China’s Shaanxi Province.
Straco Corporation’s share price dropped from above S$0.7 last November to below S$0.5 this March.
