Asiatravel.com and subsidiaries may have licences suspended

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Asiatravel.com and subsidiaries may have licences suspended

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15-07-2018, 12:20 PM

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Asiatravel.com and subsidiaries may have licences suspended

An honorable member of the Coffee Shop Has Just Posted the Following:

Online travel agent Asiatravel.com and its subsidiaries may have their licences suspended by the Singapore Tourism Board (STB), after the company's auditor flagged concerns about its "ability to continue as a going concern" due to its losses and liabilities.

Auditor Ernst and Young noted that Asiatravel.com incurred a net loss of S$34.6 million for its 2017 financial year. The group's liabilities also exceeded their assets by S$11 million as of end last year.

Meanwhile, the...

Asiatravel.com and subsidiaries may have licences suspended

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