Doubts Surround Eye on Malaysia Reopening

Doubts surround the upcoming reopening of the Eye on Malaysia ferris wheel.

The giant attraction, stopped turning early this year due to a legal tussle over its ownership, but had been expected to start spinning again, after a three-month hiatus, on 1st June.

Yesterday, Marc De Waele of owners Fitraco NV explained "we have received a proposal from a Malaysian company known as The Eye Sdn Bhd to lease the giant wheel for a specified period", adding "however, we have not made a final decision yet."

Talks are believed to be ongoing between the Belgium-based Fitraco, the owner of the ferris wheel, and Malaysian company The Eye Sdn Bhd for 'The Eye' to operate on lease.

However, Fitraco are apparently still awaiting settlement of a RM17million debt owed by MST Ad Suria Sdn Bhd and Eye on Malaysia Sdn Bhd (EOM).

MST Ad Suria was the company responsible for bringing the 62 metre-high observation wheel to the country as part of Visit Malaysia Year 2007 while EOM was the operator of the attraction. The ferris wheel was first installed in Kuala Lumpur before it was moved to Malacca in September 2008 and put into operation a month later.

Last September, Fitraco filed a suit against the two companies for failing to pay RM17million (A$6 million) for the rental and freight of the ferris wheel to the country in 2006. Fitraco succeeded in gaining control of the ferris wheel in January and was subsequently granted the right by the Malaysian High Court to take possession of the ferris wheel or remove it.

Malacca Chief Minister Datuk Seri Mohd Ali Rustam is positive, stating that "the state is relieved that the issue over the wheel is being resolved and that it will soon be open as a tourist attraction again."

Rustam explained that the owners of The Eye Sdn Bhd are also involved in the Malacca Wonderland Theme Park in Ayer Keroh, and that he expected EOM to be dissolved to allow the new management to take over.

EOM was a joint venture company between MST Ad Suria Sdn Bhd and Kumpulan Melaka Berhad. Ad Suria brought the wheel to Malaysia three years ago and based it in Malaysian capital in conjunction with Visit Malaysia Year 2007.