faces suspension of travel agent licence; non-executive director resigns

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SINGAPORE (July 17): Holdings announced Tuesday that it has received a notice of intent from the Singapore Tourism Board (STB) on July 13 to suspend its travel agent licence for six months.

“STB is of the view that there are grounds establishing that the company will not be able to fulfil its financial obligations to a significant segment of the public,” says in a filing to SGX.

The government agency had raised concerns over the group’s auditor’s disclaimer of opinion over the continuation of the group as a going concern in its audited...(click on link for full story on