Saturday, Apr 18, 2015Saturday, Apr 18, 2015

Future of the Singapore Flyer still up in the air, almost one year later

Uncertainty of ownership leaves some tenants in a spin; others stay hopeful

Published on May 11, 2014 8:24 AM
A Seafood Paradise employee standing outside the restaurant near the Singapore Flyer during lunch hour last Friday. Some tenants say business has been slow. -- PHOTO: DESMOND LUI FOR THE SUNDAY TIMES

Almost a year after the financial woes of the Singapore Flyer came to light, there is still no buyer for the $240 million ferris wheel.

Yet while some tenants are worried about its future, others trust that the iconic attraction, which opened in 2008, will be able to find its feet again.

In May last year, the company behind the Singapore Flyer - the world's tallest at 165m until the 167m High Roller observation wheel opened in Las Vegas in March - went bankrupt and was placed under receivership.

Further uncertainty was stoked when it was reported last week that the British company behind the 135m London Eye wheel, Merlin Entertainments Group, said it was no longer in talks to purchase the Flyer.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!