SIG Holiday loses its licence

Five branches ceased business.

According to a release, the Travel Agents Registry today announced the licence of SIG Holiday will be revoked tomorrow. SIG has not explained to the registry why its five branches ceased business on November 29.

Regarding SIG's licence renewal application last month, SIG failed to provide audited financial reports, making it impossible for the registry to understand its financial status, and to decide whether the company has met the requirements under the law in the keeping of proper accounts and records.

Since April there have been incidents where travellers were stranded at destinations and had difficulty returning to Hong Kong. Their families have sought assistance from the Travel Industry Council.

The company failed to comply with a summons issued by the registrar and has failed to guarantee that SIG can maintain its travel business, both financially and in serving its customers.

The Travel Agents Ordinance requires SIG to continue to fulfil any agreement, transaction or arrangement relating to the supply of a travel service it entered into before the suspension of its licence. The registry and the council will closely monitor SIG's refunding arrangements, and help customers in need.

If travellers experience any loss in respect of an outbound fare, the established mechanism under the Travel Industry Compensation Fund can be activated to release ex-gratia payments.

The council and the registry have so far received 100 complaints and enquiries regarding the SIG issue.