I'm guessing that there is an acquisition in advanced negotiation stage for Straco. Personally, I hope it is somewhere strategically located in China rather than elsewhere because I guess no other country has the scale in number of tourists taking short holidays within their own country.
If it's SG Flyer, then we know why they incorp. a subsi called Bay Attractions.
>>> The Board of Directors of Straco Corporation Limited (“the Company”) wishes to announce that on l August 2014, the Company has incorporated a wholly-owned subsidiary, Bay Attractions Pte. Ltd. (“Bay Attractions”). Bay Attractions is incorporated in Singapore with an issued and paid-up capital of S$1/-.The main activities of Bay Attractions will be that of an investment holding company.
The SG Flyer is a very prominent landmark in the Bay Area, and someone with a spirit of innovation should really be able to make money out of it. But the recurring Ops cost should be very high, and if they can't get the high utilisation rates (it always look empty every time I'm there starring at it), then whoever owns it is dead in the water already!
sykn, yes, it would be quite a surprise if Singapore Flyer can turn around under a new management but I am sure Straco would have i) gotten a very good price ii) devised a holistic strategy (working with STB and Zouk, for example) to make good profits.