Straco Corporation, the operator of Singapore Flyer and other tourism-related assets, has reported 54.8% y-o-y lower earnings for 1QFY2025 ended March 31, 2025 of $2.27 million.
The group’s revenue fell 12.1% y-o-y to $15.2 million for 1QFY2025, due to the ongoing trade and tariff developments which have led to increased caution among Chinese consumers.
Operating profit for 1QFY2025 fell 44.6% y-o-y to $4.1 million.
The group’s Singapore Flyer business was also indirectly affected by the ongoing trade tension between the US and its trading partners, with resulting uncertainty weighing on consumer sentiment.
As at March 31, the group’s net cash holdings stood at $182.9 million.
Straco’s main operating assets include Shanghai Ocean Aquarium, Lixing cable car service at Mount Lishan, Underwater World Xiamen, and Singapore Flyer.
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