Travel agency in Little India suspended for failing to submit financial statements

Travel agency in Little India suspended for failing to submit financial statements
by acefinancial

Travel agency in Little India suspended for failing to submit financial statements

SINGAPORE: A travel agency in Little India has had its licence suspended after it failed to submit its audited statement of accounts on time, said the Singapore Tourism Board (STB) on Thursday (Jan 25).

Citi Travels & Tours was required to submit the documents within six months after the close of the financial year but did not do so. STB said it also found that the travel agent had “failed to fulfil its obligations to a customer”.

The suspension took effect on Jan 10. This means until further notice, Citi Travels & Tours will not be allowed to accept new travel bookings, but it must fulfil its existing obligations to customers, STB said.

“A failure to submit the audited accounts within the stipulated deadline raises concern over the company’s ability to meet the minimum financial requirements as mandated under the Travel Agents Regulations,” said the Tourism Board.

“STB takes a serious view against errant travel agents and will not hesitate to take necessary actions to protect the reputation of Singapore’s travel industry.”

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