Katrina CEO summoned for interview in URA investigation

Food and beverage (F&B) company Katrina Group announced on Saturday that its chief executive officer Alan Goh Keng Chian has received a notice to attend an interview in relation to an investigation by the Urban Redevelopment Authority (URA).

The URA investigation involves possible breaches of the minimum stay requirement by ST Hospitality and its subsidiaries.

Katrina announced on June 22 that two employees - a senior employee and a junior employee - of subsidiary ST Hospitality are assisting with the URA investigation.

Katrina said that the investigation is ongoing and no charges have been filed against the group nor any of the relevant persons as at Saturday.

Formerly known as Straits Organization, ST Hospitality offers corporate serviced apartments under the brand of ST Residences and co-living hotels under ST Signature.

The hospitality business segment of Katrina also provides domestic household cleaning services to customers staying in serviced apartments and co-living hotels under SO Services.

Following its rebranding in 2020, ST Hospitality appointed property veteran Tan Juay Hiang as senior adviser to the group to assist with its expansion plans and real estate diversification.

Mr Tan was formerly managing director of Reit (real estate investment trust) investments at The Ascott, CapitaLand's wholly owned lodging business unit. Prior to that, he was CEO of Ascendas Hospitality Trust, which has since merged with Ascott Residence Trust.

Katrina's hospitality segment raked in a revenue of $12.8 million for the year ended December - accounting for close to a quarter of the F&B group's total revenue of $53.8 million.

Shares of Katrina closed 2.17 per cent higher at 4.7 cents yesterday, after slumping 16.4 per cent on June 22 following the initial announcement of the URA investigation.

THE BUSINESS TIMES