May 28, 2013

of singapore flyer placed in receivership

The Singapore Flyer has been placed in receivership just 5 years after it opened. Tim Reid, Theresa Ng and Tan Aik Kiat of Ferrier Hodgson have been appointed as Receivers and Managers over the charged assets of Singapore Flyer Pte Ltd, the company which owns the 165-metre-high observation wheel.

Photo credit: Woo Siang Boon

The Singapore Tourism Board (STB) said in a statement: "STB reserves our rights as landlord and will be closely engaging the various parties involved to ensure the best possible outcome that enhances the tourism sector. We look forward to a smooth resolution with minimal disruption to the public and visitors."

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