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Straco Corp to take impairment on assets, will report losses for FY2020

The Edge Singapore
The Edge Singapore2/11/2021 04:11 PM GMT+08  • 1 min read
Straco Corp to take impairment on assets, will report losses for FY2020
For 9MFY2020, Straco reported losses of $197,000 versus $36.3 million in the year earlier
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Straco Corporation, which operates tourist attractions in China such as the Shanghai Ocean Aquarium, expects to report a loss for the full year ended Dec 31 2020, as the pandemic hurt its operations.

In addition, the company will take an impairment on the value of investment properties held by its subsidiary Straco Leisure, which holds the Singapore Flyer.

“Notwithstanding the above, the overall financial position of the Group remains healthy,” the company says.

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