Straco shares + 3 cents today to 46 cents on China lifting Covid measures.
People are free to travel in China without Covid restrictions in place anymore. Straco as the operator of the Shanghai Ocean Aquarium and Underwater World Xiamen should see jumps in visitorships.
What's China contribution to Straco? Consider that in 2019 (before Covid lockdowns), China contributed S$74 million in revenue while Singapore (Flyer), $35 million.
Net profit for that year was S$38 million.
"substantial loss" announcement by Straco was truly expected given Covid restrictions on its tourist attractions in China. So, Straco had S$8.3 m loss in 9M2022.
The optimistic picture is that looking fwd, it's headed to normalised earnings, hopefully.
In 3Q 2022, it already had a positive net profit of $175K.
Perhaps 4Q will be small positive too. More importantly, in 2023, with China back to normal, it's positive for Straco, imho
