SINGAPORE - Travel agency Euro-Asia Holidays has clarified that it is a separate business entity from Asia-Euro Holidays, which closed down suddenly last Friday.
In a statement on Monday, Euro-Asia Holidays said neither of the two directors of the closed agency Tay Jwee Hiang and Tan Meow Hwee are part of the firm.
"We are still in business and remain on good credit terms with our customers, as well as our local and overseas suppliers. We are not involved with Asia-Euro Holidays' investments," the statement added.
It added that Euro-Asia Holidays was one of the closed agency's air ticket suppliers, and had a "limited business relationship" with Asia-Euro Holidays.
Customers holding tickets issued by Euro-Asia Holidays will be able to use them regardless of whether Asia-Euro Holidays have paid for them, the statement said.
"We do not supply nor assist Asia-Euro Holidays with other travel components such as hotel stays or land tours. Hence, we will unfortunately not be able to assist their customers on such matters," it added.
The Singapore Tourism Board revoked the license of Asia-Euro Holidays on Saturday, one day after the agency put up a notice at its main branch in Chinatown Point and on its Facebook page, saying it had closed for business with immediate effect.
Chinese evening daily Lianhe Wanbao reported that the company had to close as it made huge losses in property investments, amounting to about $2 million. At least 500 customers have been affected, the report added.