I think Straco has proven itself to be a cashcow with good business fundemental.
I also think Singapore Flyer is a good buy relative to cost, and also Singapore Flyer hold great potential.
However, I think upside is rather limited from here onwards.
Straco is a cash cow, It is increasing its dividends, and many believed it can be a grower with its acquisition.
While Flyer is a great tourist attraction, it is loss making and will not yield results in the near future.
So the attractiveness as a dividend grower is lost.
Current valuation based on yield is not attractive. Hence it is hardly a stalwart or dividend play
It is not an asset play.
It is a grower play.
But as It is trying to do a turnaround, the grower theme has to change. It is a longer term play with risk involved with the timing of turning Flyer around, assume it is just a matter of when.
So,my take is, if you already owned it, especially if you owned it cheap, the piece of news is midlly positive.
But if you are entering with the correction, expect volatility. Valuation for grower play is always rich. It is a simple rule of market adjusting itself, IMHO