Straco Corporation is a stock that I owned for some time, one that taught me some invaluable investment lessons. For some time, they been updating shareholders that they are looking for potential greenfield projects to deploy their capital. They finally found one.

Mainboard-listed Straco Corporation, 63 per cent-owned by his family, is buying the 165-metre-high Singapore Flyer attraction by the Marina Promenade for S$140 million. Straco will fund the purchase with part of its S$100 million cash pile. The company will also be taking on debt. Dubbed the highest observation wheel in the world, the Flyer is a prominent feature of the Singapore skyline.

Some details of the deal

The Singapore Flyer have been in the news for some years now, all for the wrong reasons. It is seen more as an amusement to put Singapore on the world map but it went into receivership in May 2013 by Singapore ......