The Singapore Tourism Board (STB) have suspended six travel agents from conducting travel agent activities with effect from August 26, 2019.
The six travel agents are Alert Co, Success Express, RJ Travels, Sai Universal Holidays, Szimsai Holidays Events and TIS365.
During the period of suspension, the travel agents are required to fulfil any existing obligations to their customers, but will not be allowed to accept new travel bookings.
The suspension is the result of the companies’ failure to submit their audited statement of accounts within six months after the close of their financial year, said STB in a media advisory.
The suspension will remain effective until the travel agents submit their audited accounts, or for up to six months – after which, STB will decide on the next course of action, it added.
The STB said that the submission of audited accounts is a requirement under the Travel Agents Regulations.
“Failure to submit the audited accounts within the stipulated deadline raises concern over a company’s ability to meet the minimum financial requirements as mandated under the Travel Agents Regulations.”
STB stresses that it “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”.