A Singapore travel agency has had its wings clipped by the Singapore Tourism Board (STB).
The agency, Asian Travels Network, has been barred from conducting travel agent activities until further notice, STB said in a statement.
The agency will still be required to fulfil existing obligations to its customers, but will not be allowed to accept new travel bookings.
According to STB, the agency had its licence suspended for “failing to submit its audited statement of accounts within six months after the close of its financial year”.
The submission is mandated under the Travel Agents Regulations.
STB said failing to submit accounts in a timely fashion raises red flags over a business’ ability to meet the minimum financial requirements required under the regulations.
"STB 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," the STB said.