The Singapore Tourism Board (STB) has suspended two travel agencies—True Fortune PTE (formerly GISIN) and Renaissance Travel PTE—from conducting travel agent activities under the Travel Agents Act 1975.
The suspensions stem from the companies’ failure to submit their Audited Statement of Accounts (AA) and/or Annual Business Profile Returns (ABPR) within the required six-month period after their financial year-end, as mandated by the Travel Agents Regulations 2017.
Renaissance Travel, established in 1996, has a nearly 30-year history serving the outbound travel market. True Fortune PTE is less well-documented publicly.
During the suspension, both agencies must continue to fulfill existing customer obligations but are prohibited from accepting new bookings. The suspension will last until the agencies submit the necessary documents or for a maximum of six months.
In its statement, STB emphasized its commitment to maintaining industry integrity, warning that it will take decisive action against non-compliant agents to protect Singapore’s travel sector reputation.
