Katrina CEO summoned for interview in relation to URA investigation

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SINGAPORE (THE BUSINESS TIMES) – Meals and beverage (F&B) firm Katrina Group introduced on Saturday (June 25) that its chief government officer Alan Goh Keng Chian has obtained a discover to attend an interview in relation to an investigation by the City Redevelopment Authority (URA).

The URA investigation entails doable breaches of the minimal keep requirement by ST Hospitality and its subsidiaries.

Katrina on June 22 had additionally introduced that two staff – a senior worker and a junior worker – of subsidiary ST Hospitality are aiding with the URA investigation.

Katrina mentioned that the investigation is ongoing, and no expenses have been filed in opposition to the group nor any of the related individuals as at June 25.

Previously often known as Straits Group, ST Hospitality presents company serviced flats beneath the model of ST Residences and co-living lodge beneath ST Signature.

The hospitality enterprise phase of Katrina additionally supplies home family cleansing companies to the purchasers staying in service flats and co-living motels beneath SO Providers.

Following its rebranding in 2020, ST Hospitality had appointed property veteran Tan Juay Hiang as senior adviser to the group to help with its enlargement plans and actual property diversification.

Mr Tan was previously managing director of Reit Investments at Ascott, CapitaLand’s wholly owned lodging enterprise unit. Previous to that, he was CEO of Ascendas Hospitality Belief, which has since merged with Ascott Residence Belief.

Katrina’s hospitality phase raked in income of $12.8 million for the 12 months ended December – accounting for near 1 / 4 of the F&B group’s complete income of $53.8 million.

Shares of Katrina closed flat at 4.6 cents on Friday (June 24), after slumping 16.4 per cent on June 22 following the preliminary announcement of the URA investigation.

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