Most older Singaporeans about my age can identify with the above float. It is the old National Theatre in River Valley Road. It was a landmark that most older Singaporeans will remember.
But it is so sad to see it gone. In the early 1980s, the theatre was labelled structurally unsafe due to defects discovered in its cantilever roof. Also, with the proximity of the proposed Central Expressway underground tunnel to the theatre coupled with its declining use due to the lack of air-conditioning, led to a government decision to demolish the National Theatre
You can view more information about it from wikipedia .