HypoVereinsbank is believed to be advising on a planned future-flow ABS of the Singapore Flyer, word surfaced last week.

The Flyer, currently under construction, will be the world's highest observation wheel at 170 meters over the ground.

HypoVereinsbank is keeping quiet on the talk, as the completion date for the S$200 million project has been continually pushed back.

The Flyer - which will be located within the Marina in the CBD and has been designed by Melchers Project Management - was due to open at the end of 2005, but will not now open for business until 2007.

Despite the delays, there is little possibility of the project being abandoned, especially as the state-run Singapore Tourism Board commissioned it.

The Flyer is expected to pull in more than 2.5 million visitors per year, more than half expected to be foreign tourists.

Copyright 2005 Thomson Media Inc. All Rights Reserved.

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