Travel firm Konsortium Express and Tours closes due to ‘financial crisis’
SINGAPORE — For more than a decade, Madam Tan had counted on Konsortium Express and Tours for bus tickets to visit her brother in Singapore for Chinese New Year celebrations.
On Thursday (Feb 22) afternoon, the 69-year-old Malaysian retiree from Penang, who did not want to give her full name, was surprised when she visited the tour agency’s premises at Golden Mile Tower to ask about ticket prices, but was greeted with a shut glass door and darkened office interior.
She thought the office was closed for the day, until she was told by a security guard that the company has ceased operations for good.
In a notice posted on its website and on the entrance of its office, Konsortium announced that it was shutting down after going into a “financial crisis”.
The notice did not have details of what caused the financial crisis, but said that all customers with unfulfilled trips or packages should seek claims from travel insurance, if they have any, or to seek refunds through the Small Claims Tribunal.
“We are deeply apologetic for the sudden closure and we seek your forgiveness,” the notice read.
The news came as a surprise to customers such as Madam Tan, who travels to Singapore on Konsortium coaches at least once a year.
“It was quite a reliable company, and its prices were reasonable, too,” she said in Mandarin.
Mr Richard Phang, who has been Konsortium’s customer for more than five years, said it is “surprising” that the company would wind up so suddenly. The 40-year-old, who said he is in the IT line, was also intending to enquire about coach ticket prices on Thursday afternoon.
In a statement on Thursday night, the Singapore Tourism Board (STB) said that it has revoked Konsortium's travel agent licence.
"Affected consumers who have purchased travel insurance prior to the closure should approach their insurance providers for assistance," STB added.
"Consumers who are not covered by travel insurance can seek the help of the Consumers Association of Singapore (Case) or the Small Claims Tribunal, where appropriate."
Travel firm Konsortium Express and Tours closes due to ‘financial crisis’
SINGAPORE — For more than a decade, Madam Tan had counted on Konsortium Express and Tours for bus tickets to visit her brother in Singapore for Chinese New Year celebrations.
On Thursday (Feb 22) afternoon, the 69-year-old Malaysian retiree from Penang, who did not want to give her full name, was surprised when she visited the tour agency’s premises at Golden Mile Tower to ask about ticket prices, but was greeted with a shut glass door and darkened office interior.
She thought the office was closed for the day, until she was told by a security guard that the company has ceased operations for good.
In a notice posted on its website and on the entrance of its office, Konsortium announced that it was shutting down after going into a “financial crisis”.
The notice did not have details of what caused the financial crisis, but said that all customers with unfulfilled trips or packages should seek claims from travel insurance, if they have any, or to seek refunds through the Small Claims Tribunal.
“We are deeply apologetic for the sudden closure and we seek your forgiveness,” the notice read.
The news came as a surprise to customers such as Madam Tan, who travels to Singapore on Konsortium coaches at least once a year.
“It was quite a reliable company, and its prices were reasonable, too,” she said in Mandarin.
Mr Richard Phang, who has been Konsortium’s customer for more than five years, said it is “surprising” that the company would wind up so suddenly. The 40-year-old, who said he is in the IT line, was also intending to enquire about coach ticket prices on Thursday afternoon.
In a statement on Thursday night, the Singapore Tourism Board (STB) said that it has revoked Konsortium's travel agent licence.
"Affected consumers who have purchased travel insurance prior to the closure should approach their insurance providers for assistance," STB added.
"Consumers who are not covered by travel insurance can seek the help of the Consumers Association of Singapore (Case) or the Small Claims Tribunal, where appropriate."
More at https://www.todayonline.com/singapore/travel-firm-konsortium-express-and-tours-closes-due-financial-crisis