Singapore Stocks That Could See Their Share Prices Head Higher：Straco Corporation Limited

Straco is a developer and operator of tourism facilities located in China and Singapore.

The group owns the Shanghai Ocean Aquarium, Underwater World Xiamen, and the iconic Singapore Flyer, a giant observation wheel.

The group reported a 32.7% year-on-year fall in revenue for 2022 to S$28.2 million as its attractions in China had their operations disrupted by the country’s COVID-zero policies.

As a result, Straco reported a loss of S$10.8 million, reversing its net profit of S$11.6 million in 2021.

Despite the weaker results, the group still maintained a strong cash balance of S$150.7 million with total debt of just S$8 million.

With China relaxing its COVID policies and opening its borders in January this year, Straco is optimistic that it can enjoy a strong rebound in visitor numbers for 2023.