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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.
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Singapore, 28 August 2014 – Straco Corporation Limited (Straco Corp) today announced that its subsidiary, Straco Leisure Pte Ltd (Straco Leisure) has signed an agreement with Singapore Flyer Pte Ltd (in Receivership) to purchase the business and assets of the Singapore Flyer.
Straco Corporation Limited ("SCL") 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.
Singapore Flyer was acquired by Straco Corporation Limited in November 2014 through Straco Leisure Pte Ltd, a joint venture between Bay Attractions Pte Ltd, a wholly-owned subsidiary of Straco Corporation Limited and WTS Leisure Pte Ltd. Singapore Flyer is Straco Corporation’s flagship project in Singapore.
Straco Leisure Pte. Ltd. is 90% owned by Straco Corporation Limited, a Singaporean listed company that operates tourist attractions in China such as the Shanghai Ocean Aquarium and Underwater World Xiamen. The remaining 10% is owned by WTS Leisure Pte. Ltd., one of the largest private tour bus operators in Singapore.
Straco Corporation Limited ("SCL") 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.
STRACO LEISURE PTE. LTD. (the "Company") is a Private Company Limited by Shares, incorporated on 1 February 2011 (Tuesday) in Singapore . The address of the Company's registered office is at the INTERNATIONAL PLAZA building.
