Asiatravel.com Holdings Ltd

http://www.businesstimes.com.sg/premium/...m-20140604

PUBLISHED JUNE 04, 2014
Top Chinese firms eyeing Asiatravel.com
No firm offer yet from potential suitors but 'beauty parade' possible
BYANITA GABRIEL
anitag@sph.com.sg @AnitaGabrielBT

The potential bidders have yet to put a firm offer on the table of Asiatravel, an online travel reservation service provider, but a "beauty parade is on hand", according to an industry source - PHOTO AFP
TWO Chinese giants - a leading online travel firm and an e-commerce heavyweight - may be vying for a slice of Singapore-listed Asiatravel.com to tap the booming e-ticketing travel space in China.
The potential bidders have yet to put a firm offer on the table of Asiatravel, an online travel reservation service provider, but a "beauty parade is on hand", according to an industry source.
If the plan pulls through, it will follow hot on the heels of a major deal in the e-commerce space in another Singapore-listed firm which was only just announced - Alibaba's planned purchase of a 10.35 per cent stake in national postal carrier Singapore Post.
The Business Times understands that Alibaba's founder and chairman, Jack Ma, was in Singapore recently to finalise talks with another firm. Just which firm is in Mr Ma's crosshair is not clear yet.

Online market is a very competitive market, with low entry barriers...

(not vested)

Asiatravel.com sinks deeper into the red as online competition intensifies and costs rise

SINGAPORE (Nov 28): Asiatravel.com, the online travel and hotel reservation service provider, has sunk deeper into losses in FY2014 ended Sept.

Full-year losses widened to $9.6 million from $5.7 million even though revenue increased 4.4% to $90 million.

Revenue for online businesses grew by $10.7 million but its offline wholesaler business fell by $6.9 million.

Asiatravel.com said the entry of many new meta-search players to the online hotel reservation channel made it more costly to acquire new customers and retain existing customers.
...
http://www.theedgemarkets.com/sg/article...costs-rise

Where is the rumoured big time suitors... seems like only some online platform with moats can make big $, no all just like the dot.gone era...

(30-11-2014, 10:20 PM)CityFarmer Wrote: Online market is a very competitive market, with low entry barriers...

(not vested)

Asiatravel.com sinks deeper into the red as online competition intensifies and costs rise

SINGAPORE (Nov 28): Asiatravel.com, the online travel and hotel reservation service provider, has sunk deeper into losses in FY2014 ended Sept.

Full-year losses widened to $9.6 million from $5.7 million even though revenue increased 4.4% to $90 million.

Revenue for online businesses grew by $10.7 million but its offline wholesaler business fell by $6.9 million.

Asiatravel.com said the entry of many new meta-search players to the online hotel reservation channel made it more costly to acquire new customers and retain existing customers.
...
http://www.theedgemarkets.com/sg/article...costs-rise

It is instructive to compare this with Singpost

seems like there is an offer of 30cents for asiatravel.com.

http://www.channelnewsasia.com/news/busi...35242.html

POTENTIAL OFFER FOR SHARES IN THE COMPANY...

There is no certainty that the Proposed Offer will be successful or will result in any transaction or definitive agreement. The Company will make appropriate announcement(s) in the event that there are any material developments on this matter.

PROPOSED RESTRUCTURING EXERCISE

(a) The Group intends to scale down its B2C business and move its current central operational centre in Singapore to the Philippines. The Group intends to close B2C units in all other operating destinations and manage its B2C operations from the Philippines. The Group holds a leading position and enjoys significant market share in Philippines. Therefore, having its central operational centre in the Philippines will strengthen and grow its operations in the Philippines to contribute to the Group’s profitability.

(b) The Group will significantly ramp up its B2B business as it has recorded a compound annual growth rate of more than 50% since its launch in 2012. The Group expects the increase in revenue from its B2B business to offset the decline in revenue following the scaling down of the Group’s B2C business.

© The Group intends to dispose its 50% owned loss making offline wholesaling units.

(d) The Group is reviewing its transportation and ground tour operations and feasibility in outsourcing or other options for these services in order to reduce maintenance costs and strengthen cash flow. With the restructuring, the Group’s operating expenditures is expected to be significantly reduced and the Group can have more resources to launch an Augmented Reality (“AR”) digital tour project with a technology partner, of which more details will be announced in a separate press release. We believe this can be game changer for the Group as this is a revolutionary new product and the Company will have the first mover’s advantage.

http://infopub.sgx.com/FileOpen/Asiatrav...eID=489155

Receipt of Notice of Intent to Suspend Travel Agent Licence

Asiatravel.com Holdings Ltd announced that the Company had on 13 July 2018 received a notice of intent from the Singapore Tourism Board ("STB") to suspend the Company’s travel agent licence for a period of 6 months.

According to the Notice, the STB is of the view that there are grounds establishing that the Company will not be able to fulfil its financial obligations to a significant segment of the public.
These grounds include: 
(a) the Company’s auditor’s disclaimer of opinion over the continuation of the Company as a going concern in the audited financial statements of the Group for the financial period ended 31 December 2017; and 
(b) the STB’s “cognisance” of the Group’s inability to fulfil some of its outstanding obligations to its business partners and customers. 
Consequently, the STB has given the Group 14 days (i.e. by 27 July 2018) to submit reasons and show cause against the Notice.

The Company is of the view that there will be no implications on its operations as a result of the Notice. The Company is currently seeking legal advice and will, in consultation with its lawyers, take all necessary steps and measures to vigorously show cause against the Notice. During this period, the Group will strive to ensure that its customer bookings are not affected, and will continue to work towards making good all existing obligations to consumers and industry partners. The Company will also, as required by the Notice, inform its customers thereof.