Singapore’s Asian Travels Network has been suspended from conducting travel agent activities from April 4, 2019 until further notice, in accordance with the Travel Agents Act (Chapter 334).
The suspension is a result of the company’s failure to submit its audited statement of accounts within six months after the close of its financial year, the Singapore Tourism Board (STB) said in a notice.
The submission of audited accounts is a requirement under the Travel Agents Regulations. STB explained that failure to do so within the stipulated deadline raises concern over a company’s ability to meet the minimum financial requirements as mandated under the law.
During the period of suspension, Asian Travels Network is required to fulfil its existing obligations to its customers, but will not be allowed to accept new travel bookings.
