Its businesses in China and Singapore remain profitable for the quarter

 

[SINGAPORE] Singapore Flyer operator   Straco   : S85 +1.3%posted a net profit of S$10.7 million for its third quarter ended Sep 30, 8 per cent down from S$11.7 million in the year-ago period.  

 

Its revenue fell 13.4 per cent to S$27.2 million from S$31.4 million, Straco said on Thursday (Nov 27). 

 

The group noted that both its China and Singapore businesses remained profitable for Q3 2025. However, it attributed the quarter&rsquo s top-line and bottom-line declines to consumer sentiment being muted, relative to previous years. 

 

It noted that performance was uneven across its various operating assets. For the three months, its Shanghai Ocean Aquarium recorded higher revenue and profit than in Q3 2024, but its Xiamen aquarium and cable car service in Xi&rsquo an clocked lower revenue and profit due to heightened competition and reduced spending among Chinese tourists.

 

Nonetheless, Straco remains &ldquo cautiously optimistic&rdquo about the tourism industry&rsquo s prospects, given the crowds seen during this year&rsquo s summer holidays. 

 

Its operating profit for the quarter fell to S$15.7 million, 11.6 per cent down year on year from S$17.8 million its profit after tax declined 9 per cent to S$11.3 million, from S$12.5 million previously. 

 

The company&rsquo s net cash generated from operating activities amounted to S$16.4 million for Q3 2025, 23.7 per cent lower than in Q3 2024. It said that its financial position remained strong, with net cash holdings of S$185 million as at Sep 30. 

 

For the nine months ended September, the company posted a net profit of S$16.1 million, a 27.4 per cent decrease from S$22.2 million in the previous corresponding period. 

 

Revenue for the nine months dropped 11 per cent on the year to S$59.9 million, from S$67.3 million. 

 

Operating profit fell 23.6 per cent to S$25.4 million from S$33.3 million, and profit after tax decreased 27.1 per cent to S$17.2 million from S$23.6 million. 

Dip is attributed to a less buoyant economic outlook, which has affected consumers&rsquo confidence and discretionary spending on leisure activities

 

[SINGAPORE] Tourist attraction developer and operator Straco : S85 +2.41% has posted a 49 per cent decrease in net profit to S$5.4 million for the first half ended Jun 30, down from S$10.5 million in the previous corresponding period. 

 

On Monday (Aug 11), the group, which operates the Singapore Flyer as well as several attractions in China, attributed this to a &ldquo less buoyant&rdquo economic outlook, which has affected consumers&rsquo confidence and discretionary spending on leisure activities.

 

Straco&rsquo s executive chairman Wu Hsioh Kwang said: &ldquo Despite the economic slowdown, the tourism sector remains resilient in both markets that the group operates in. That said, tourists are showing greater caution with discretionary spending.&rdquo  

 

Revenue fell 9 per cent to S$32.7 million, down from S$35.9 million in the previous corresponding period. 

 

Revenue generated at the Singapore Flyer fell to S$14.3 million, down from S$14.6 million.

 

Meanwhile, its revenue from three attractions in China was S$18.4 million, 13 per cent lower compared to a year ago. Its attractions in China include the Shanghai Ocean Aquarium, Lixing cable car service at Mount Lishanand Underwater World Xiamen.

 

Overall attendance to all the attractions totalled 1.29 million visitors for the half year, 12 per cent lower than the corresponding period of 1.47 million visitors a year ago. 

 

The group reported a net profit of S$5.4 million for the first half of the year, including an exchange loss of S$1.24 million, while an exchange gain of S$380,000 was recorded in the corresponding period.

 

Earnings per share for the period decreased to S$0.63, from S$1.23.

 

Singapore skyline at sunset, 14 May 2024. Marina Bay Sands, MBS, Singapore Flyer, Benjamin Sheares Bridge, Gardens by the Bay, GBTB, Sunset, Central Business District, CBD

Straco H1 profit up 64.5% to S$10.5 

 

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&rsquo 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&rsquo 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&rsquo s net cash holdings stood at $182.9 million.

 

Straco&rsquo s main operating assets include Shanghai Ocean Aquarium, Lixing cable car service at Mount Lishan, Underwater World Xiamen, and Singapore Flyer.

On Apr 25, Straco executive chairman Wu Hsioh Kwang acquired 16,545,000 shares in a married deal at S$0.40 apiece. With a consideration of S$6,618,000, this increased his direct interest from 1.04 per cent to 2.97 per cent.

 

He also maintains a 55.02 per cent deemed interest through Straco Holding, Straco (HK) and his spouse and non-executive director Chua Soh Har. This brings his total interest to 57.99 per cent.

 

Wu founded Straco, and has been instrumental in driving its growth since inception. Appointed as executive chairman in March 2003, he leads the group&rsquo s strategic vision and overall management, while guiding its developing growth strategies.

 

The group has been one of the first few foreign-owned companies that built up a significant presence and influence in China&rsquo s tourism industry. Straco&rsquo s main operating assets include the Singapore Flyer, Shanghai Ocean Aquarium, Underwater World Xiamen and Lintong Lixing Cable Car. It also holds the development rights to Chao Yuan Ge, a historical site situated at the alighting point for the Lintong Lixing Cable Car.

 

Additionally, it has secured exclusive permission from the State Administration of Cultural Heritage of China to exhibit relics unearthed from the Chao Yuan Ge site on Lishan Mountain. Among the attractions, the Shanghai Ocean Aquarium is the group&rsquo s flagship attraction it is sited adjacent to the Oriental Pearl Tower and well positioned to serve visitors in Shanghai&rsquo s financial district of Lujiazui in the Pudong New Area.

 

For its FY2024 (ended Dec 31), Straco reported revenue of S$81.5 million, down 0.8 per cent from FY2023, attributed to its two China aquariums that pulled in fewer visitors amid a challenging economic and operating environment. This was partially offset by the Singapore Flyer achieving a 15 per cent increase in revenue and a more than 60 per cent surge in net profit, compared to FY2023. Overall attributable net profit for Straco in FY2024 was up 6 per cent to S$27.2 million.

 

The group&rsquo s financial position also remained robust, with a net cash holding of S$181 million as at the end of 2024. It plans to utilise this cash for ongoing asset enhancements, and is open to exploring collaborations and opportunities for mergers and acquisitions.

 

Wu recently announced a positive economic outlook for 2025 in both the China and Singapore tourism markets. He noted China is aiming for a gross domestic product growth of around 5 per cent in 2025, which is expected to benefit the tourism industry as the economy shifts towards consumption-driven growth.

 

He also expects that stimulus support and structural reforms will help stabilise industries that have struggled in recent years, boosting consumer confidence. Wu said the Singapore Flyer remains a popular attraction, drawing visitors from major markets such as mainland China, Indonesia and India. He added the Singapore Tourism Board projects international visitor arrivals to Singapore to come in at between 17 million and 18.5 million in 2025, which would represent a growth of 3 to 12 per cent, compared to 2024.

In the four trading sessions between Apr 25 and 30, 15 primary-listed companies conducted buybacks with a total consideration of S$5.1 million

 

[singapore] Over the four trading sessions from Apr 25 to 30, institutions were net buyers of Singapore stocks, with net institutional inflow of S$56.4 million, reversing the preceding five sessions&rsquo institutional outflow of S$14 million. This brings the net institutional outflow for the 2025 year to Apr 30 to S$1.73 billion.

 

Institutional flows

The stocks with the highest net institutional inflow were OCBC : O39 +0.12%, Singapore Airlines : C6L +0.89%, Sembcorp Industries : U96 0%, Singtel : Z74 +0.53%, Singapore Technologies Engineering : S63 -0.81%, Singapore Exchange : S68 -0.14%, Keppel : BN4 +0.61%, Keppel DC Reit : AJBU +1.39%, Jardine Matheson Holdings : J36 +3.91% and Hongkong Land Holdings : H78 +0.41%.

 

DBS : D05 +0.59%, iFast Corporation : AIY +1.29%, Mapletree Logistics Trust : M44U 0% (MLT), UOB : U11 +0.75%, ComfortDelGro Corporation : C52 +0.65%, Wilmar International : F34 +0.33%, Frasers Centrepoint Trust : J69U 0%, ESR-Reit : 9A4U +0.91%, Frasers Logistics & Commercial Trust : BUOU +0.56% and Seatrium : 5E2 +1.57% led the net institutional outflow over the four sessions.

 

From a sector perspective, industrials and utilities experienced the highest net institutional inflow, and financial services and technology recorded the most net institutional outflow.

 

Share buybacks

In the four sessions to Apr 30, 15 primary-listed companies conducted buybacks with a total consideration of S$5.1 million.

 

Director transactions

In the four trading sessions between Apr 25 and 30, nearly 80 director interests and substantial shareholdings were filed for more than 40 primary-listed stocks. Directors or chief executive officers filed 20 acquisitions and no disposals substantial shareholders filed four acquisitions and two disposals.

 

This included director or CEO acquisitions in Aspial Lifestyle : 5UF +0.84%, CDW Holding : BXE 0%, ESR-Reit, iFast Corporation, Keppel, MLT, MegaChem : 5DS -2.5%, Sheffield Green : SGR 0%, Straco Corporation : S85 +1.16%, Tat Seng Packaging Group : T12 +1.23%, Union Steel Holdings : ZB9 0% and UOB-Kay Hian Holdings : U10 +1.67%

 

Tourism attraction operator Straco Corporation S85 has posted revenue of $31.4 million for 3QFY2024 ended Sept 30, down 11.4% y-o-y.

 

According to a Nov 22 bourse filing, further weakening of the renminbi weighed on the group&rsquo s profitability with an exchange loss of $1.2 million recorded in 3QFY2024, compared to an exchange gain of $0.23 million recorded in 3QFY2023.

 

Operating profit, meanwhile, fell nearly 25% to $17.8 million, while profit after tax fell 27.7% y-o-y to $12.5 million in 3QFY2024. 

 

Profit attributable to shareholders of the Mainboard-listed company fell 28.6% y-o-y to $11.7 million during the quarter.  

 

Financial metrics for 9M2024 were flatter y-o-y, with revenue down 0.3% y-o-y to $67.3 million, operating profit down 4% to $33.3 million, profit after tax down 1.7% y-o-y to $23.6 million and profit attributable to shareholders down 2.5% y-o-y to $22.2 million. 

 

Straco Corporation, listed on the Singapore Exchange S68 in 2004, operates assets such as the Shanghai Ocean Aquarium Lixing cable car service at Mount Lishan in Shaanxi province Underwater World Xiamen and the Singapore Flyer.

 

For the quarter under review, the group&rsquo s businesses in China recorded profitable performance and contributed positively. 

 

&ldquo While the cable car operation in Xian reported improvement in revenue and profitability over that of [the] corresponding period in 2023, both aquariums in Shanghai and Xiamen registered drops in revenue and profit, due to reduced spending among Chinese tourists and heightened competition,&rdquo says the company. 

 

Meanwhile, the Singapore Flyer reported higher revenue and profit in 3QFY2024 compared to the corresponding period last year, amid an increase in international visitors and support from local residents. Straco did not provide a breakdown by geography. 

 

Net cash generated from operating activities amounted to $21.44 million in 3QFY2024, 15% lower y-o-y. 

 

The group&rsquo s financial position &ldquo remains strong&rdquo with net cash holdings of $172.51 million as at Sept 30.