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China Tourism Business : Good Potential
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Pension
Elite |
14-Sep-2007 16:23
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BACKGROUND Straco Corporation Limited ("SCL") was incorporated in Singapore in April 2002. It was listed on the Mainboard of the Singapore Exchange on 20 February 2004. Its major shareholders are Straco Holding Pte Ltd and China Poly Group Corporation. SCL is a leading developer and operator of tourism-related assets in China. SCL's key asset is the Shanghai Ocean Aquarium ("SOA"). Built at a cost of US$50 million, it is one of the largest indoor, closed systems aquariums in the world with a total built up area of 20,000 square metres and a designed capacity of 21,000 people per day. The world-class aquarium, situated in the New Pudong Area and next to Shanghai's landmark Oriental Pearl Tower, showcases over 10,000 fishes and exotic marine livestock of over 350 species from all over the world. SCL also owns and operates Lixing cable-car service at Mount Lishan in Lintong District, Shanxi province. With a total investment of US$5.2 million, it was the first cable car service of international standard in China, with a total distance of 1.44 kilometres. Lixing cable-car has been in operations for more than 10 years, providing a convenient mean of transport to the scenic Mount Lishan. SCL is currently developing Chao Yuan Ge ("CYG") on Mount Lishan, en-route to the well-known "Terracotta Warrior Museum". CYG will be a historical and cultural theme park showcasing replicas of the unique architectural structures of the Tang Dynasty. Expected to be ready in 2006, CYG will feature actual relics that were unearthed on Lishan Mountain and will employ special high tech effects to recreate "life during the Tang Dynasty". As a Singapore listed company engaged mainly in the development and operation of tourism-related assets in China, SCL will continue to target high quality tourism and entertainment projects in China and other regions. |
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