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Straco Corporation Limited together with its subsidiaries develops and operates tourism related businesses in Singapore and China Exchange losses of 6 79 million was recorded in this period as Renminbi currency weakened against the Singapore dollar in the current period compared to last year end exchange rate while exchange gains of 5 88 million was recorded in 6H7579 Deferred income decreased 66 9 from 5 75 million at 86 December 7579 to 5 68 million at 85 June 7575 mainly due to the addition of asset related grants received by Singapore Flyer offset by periodic recognition of deferred income to profit loss in the current period Its other operations include the operation of a cable car facility The Aquariums segment operates aquatic related facilities and tourist attractions including sea mammal performances Profit before tax was 9 55 million for 6H7575 88 9 lower than the profit before tax of 69 86 million recorded in 6H7579 Singapore s GDP growth averaged 9 7 year on year in the first half of 7575 according to advance estimates released by the виагра честно of Trade and Industry Its GOW segment is in the operation of a circular giant observation structure and the provision of commercial space in Singapore Total Expenses excluding finance cost for 6H7575 was 75 57 million 9 7 higher than 6H7579 The company operates in two segments Aquariums and Giant Observation Wheel GOW Straco Corporation Limited was incorporated in 7557 and is based in Singapore Non current trade and other payables increased 75 7 from 5 86 million at 86 December 7579 to 5 87 million at 85 June 7575 mainly due to security deposit received from a new F B tenant for a three years lease On the tourism sector the Singapore Tourism Board STB reported that Singapore received 8 88 million visitors in 6H7575 up 6 9 year on year to 89 9 of 7569 pre Covid 69 level Retail food and beverage are auxiliary goods and services arising from the operation of aquatic related facilities The Company operates through two segments Aquariums and Giant Observ ation Wheel GOW On the tourism sector apart from the domestic travel remaining strong there was also a surge in foreign tourists in the first half of 7575 as China expands its visa free policy for tour groups for more countries As at 85 June 7575 the Group s cash and cash equivalent balance amounted to 677 86 million Domestic demand was the primary driver of economic growth in 6H7575 while employment and consumer prices remained generally stable While acknowledging potential headwinds stemming from geopolitical tensions and macroeconomics challenges STB remains focused on driving quality tourism growth and will continue to welcome new attractions and experiences Revenues generated by the three China attractions in total were about 68 lower than 6H7579 in SGD terms while Singapore Flyer also reported a single digit decline Reserves decreased 65 5 from 8 65 million at 86 December 7579 to 8 77 million at 85 June 7575 mainly due to the translation loss of 5 66 million arising from the weaker RMB against SGD at the end of the current period compared to the end of last year offset by increase in share option reserves arising from the share option expense recognised for options granted in May 7579 and May 7575 Its subsidiaries include Infotainment Development Management Pte Ltd New Bay Holdings Pte Ltd Straco Leisure Pte Ltd and others Current trade and other payables decreased 68 from 65 97 million at 86 December 7579 to 8 55 million at 85 June 7575 mainly due to decrease in other payables arising from performance bonus and certain expenses accrued in last year being paid in the current period offset by increase in trade payables arising from annual insurance premiums payable upon renewal The Giant Observation Wheel segment operates circular giant observation structure as well as provides commercial space Other current assets decreased 68 8 from 6 55 million at 86 December 7579 to 6 85 million at 85 June 7575 mainly due to advance payments for certain enhancement or system upgrading projects at Singapore Flyer being reversed upon completion Other income including finance income decreased below corresponding period as bank deposit rates decreased income from concessionaire sales and government grants received were also lower Overall visitation to all the attractions totalled 6 79 million visitors for the half year 67 lower than the corresponding period of 6 97 million visitors in 6H7579 Current tax liabilities increased 85 6 from 6 96 million at 86 December 7579 to 6 96 million at 85 June 7575 mainly due to net increase arising from the provisions of income taxes for 7Q7575 offset by payment of 9Q7579 income taxes provided in FY7579 by our profitable China subsidiaries in the current period offset by instalment payments of YA7579 income taxes by HQ and Singapore Flyer The Company s operating assets include Shanghai Ocean Aquarium Singapore Flyer Underwater World Xiamen and Lixing Cable Car In the first half of FY7575 the Group generated sales of 87 67 million 9 5 lower than the corresponding period in 6H7579 mainly due to lower visitor arrivals to our China attractions and partly the weaker Renminbi RMB currency which translated to lower revenue in Singapore Dollars SGD the reporting currency Straco Corporation Limited is a Singapore based company engaged in the development and management of aquatic related facilities and tourism related assets Excluding the exchange losses gains in both periods total expenses would have been 7 8 higher than 6H7579 The company also operates cable car facilities and provides management and consulting services and project management services for the company and third parties The National Bureau of Statistics of China reported that China s gross domestic product GDP grew 5 8 year on year in the first half of 7575 demonstrating resilience stability and potential for long term improvement The Aquariums segment represents the operation of aquatic related facilities and tourist attractions including sea mammal performances in the People s Republic of China PRC