The Singapore Tourism Board (STB) has revoked the licence of a travel agency on Thursday (Dec 4) over concerns about the authenticity of the financial information it provided. In a statement on Dec 4, STB said Toyou Travel was no longer permitted to carry out any travel agent activities. «STB has reason to be believe that the company contravened Section 13(b) of the Travel Agents Act 1975 by submitting false financial statements for some years, constituting an offence involving dishonesty,» the statement read.Toyou Travel must now refund all its existing customers or hand over their existing obligations to licensed travel agents to fulfil.Checks by AsiaOne on Toyou's website show that it offered mainly inbound travel services to Singapore under the categories of educational tours, overseas studies, leisure and customised tours. The website is written mostly in Mandarin.Under the Act, licensed agencies must submit their auditor-certified financial statements to STB each year, within six months of the close of the licensee's financial year.  Read more