Singapore Flyer bought by Straco Leisure for S$140m

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Straco Leisure, a subsidiary of Straco Corporation, on Thursday (Aug 28) announced that it bought the Singapore Flyer for S$140 million.

Party mood!

Straco Corp's executive chairman, Mr Wu Hsioh Kwang, has more than a decade's experience in managing attractions. The company runs tourist attractions in China in places such as Shanghai, Xi'an and Xiamen.

Tenants at the Singapore Flyer are also happy to see the light at the end of a long tunnel.

One of them, Mr Parmod Kumar Verma, regional general manager of SSP Singapore, said: "We are very excited because we have been waiting for this news for a long time. If they are ready, we can talk to them and share our grievances or feedback. So it is not only the landlord's responsibility to bring the tourists - we can also contribute."

Going forward, Straco Leisure said plans for the Singapore Flyer will be shared when the transfer of assets is completed, and it is looking to work with staff and tenants to take the icon into a new phase.