Six Travel Agents in Singapore Have Licenses Revoked for Non-Compliance
Singapore – The Singapore Tourism Board (STB) announced on June 23 that six travel agents have had their licenses revoked due to their failure to submit required financial documents. The affected agencies are
- Intersys
- SGWanka
- VS Travel,
- Wizfair Travel
- and Zayn Travels
- Gemini Travel n Tours
Reasons for License Revocation
The revocation of licenses is in accordance with the Travel Agents Act 1975. These travel agencies have repeatedly failed to submit their audited statement of accounts and annual business profile returns, which are mandatory under the Travel Agents Regulations 2017 (TAR). Licensees are required to submit these documents within six months after the close of their financial year.
In addition to the failure to submit necessary documentation, one of the companies had its license revoked for not maintaining the minimum financial requirement. According to the regulations, travel agents must maintain a net value of at least $100,000 at all times.
Impact on Travel Agents and Customers
As a result of the license revocation, these travel agents are no longer permitted to conduct any travel-related activities. The STB has stated that the affected companies must refund their existing customers or transfer their obligations to licensed travel agents to fulfill.
STB’s Commitment to Industry Integrity
The STB emphasized its commitment to maintaining the integrity of Singapore’s travel industry, stating, “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.”
This action serves as a reminder to all travel agents to adhere to regulatory requirements and maintain transparency in their operations.Bookmark messageCopy messageExport