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Singapore Flyer (Receivers and Managers appointed)

May 29, 2013

Singapore Flyer was the world's largest Giant Observation Wheel and is viewed as a strategic asset in the tourism sector of Singapore's economy. After failing to meet financial obligations to its main lending bank, we were appointed receivers and managers of Singapore Flyer Pte Ltd. We immediately took steps to reverse the loss-making performance of Singapore Flyer. 

During the receivership, the Flyer traded at an accounting profit after depreciation. Trading profits and asset realisation enabled the secured creditors to be paid in full and a significant proportion of an unsecured mezzanine debt. This significantly exceeded the expectations of the secured Bank creditor.

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Tim Reid
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Theresa Ng
Executive Director
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