The Singapore Tourism Board (STB) has suspended Citi Travels & Tours from conducting travel agent activities with effect from January 10, after the latter failed to submit its audited statement of accounts within six months after the close of the financial year.
The travel agency located in Singapore’s Little India is required to fulfil its existing obligations to its customers, but will not be allowed to accept new travel bookings until further notice.
In a statement, STB explained that the submission of audited accounts is a requirement under the Travel Agents Regulations. A failure to do so within the stipulated deadline raises concern over the company’s ability to meet the minimum financial requirements.
STB also found that the travel agent had failed to fulfil its obligations to a customer.