SINGAPORE- A travel agency, A D Travel, has been suspended from conducting travel agent activities until further notice.

The company failed to meet the minimum financial requirements as mandated under the Travel Agents Regulations, the Singapore Tourism Board (STB)said in a statement on Thursday. To qualify for a travel agent licence, a registered business must have a minimum paid-up capital of $100,000 and a net worth of the same amount, among other criteria.

STB also received complaints that the agency was unable to settle refunds that it had agreed upon with its customers.

"During the period of suspension, A D Travel is required to fulfil its existing obligations to its customers but would not be allowed to accept new travel bookings," the statement added.