CATALIST-LISTED Katrina Group : 1A0 0% on Wednesday (Jun 29) shared further details on an investigation by the Urban Redevelopment Authority involving the company&rsquo s chief executive Alan Goh Keng Chian and 2 employees, in response to queries from the Singapore Exchange.

The company had previously announced that a senior employee and a junior employee of subsidiary ST Hospitality are assisting URA with an investigation. Goh has also received a notice to attend an interview regarding the investigation.

In Wednesday&rsquo s filing, Katrina disclosed that the 2 employees of ST Hospitality are a senior revenue manager and a reservation and sales manager. Their work responsibilities are to lead pricing strategy, set rates, oversee sales of ST Hospitality inventory and administration, and handle direct and corporate sales of ST Hospitality.

 

URA has indicated that the inquiry is into an offence involving short-term accommodation provided by ST Hospitality, but the particulars of the offence were not disclosed. As such, Katrina&rsquo s board said that it is unable to confirm the operations and financial impact of the possible breaches of the minimum stay requirement.

Asked by SGX on Goh&rsquo s suitability to remain chief executive, the nominating committee (NC) said that he remains suitable as investigations are still ongoing and no charges have been made against him.

&ldquo In arriving at this view, the NC and the board have considered the past working relationship with the CEO since his founding of the company. The CEO has always conducted his duties professionally and in the best interests of the Group,&rdquo Katrina said.

 

The company noted that he heads the formulation of strategic directions and expansion plans in Singapore and overseas markets and manages the overall business development.

Katrina&rsquo s sponsor Hong Leong Finance added that the investigation is still ongoing and it is unable to confirm that Goh is the subject of the investigation. His interview is scheduled for Jul 7.

&ldquo Taking into account the board&rsquo s view and assessment and having found no adverse information on Goh, the sponsor has not found information that may impair his suitability to continue as a director and CEO of the company,&rdquo Hong Leong Finance said, adding that it would re-assess his suitability as more information is available.

Thus far, Goh and the 2 employees have not been served with any order to produce documents or asked to surrender any travel documents.

 

FOOD and beverage (F& B) company Katrina Group announced on Saturday (Jun 25) that chief executive officer Alan Goh Keng Chian has received a notice to attend an interview in relation to an investigation by the Urban Redevelopment Authority (URA).

 

The URA investigation involves possible breaches of the minimum stay requirement by ST Hospitality and its subsidiaries.

 

Katrina on Jun 22 had also announced that 2 employees &ndash a senior employee and a junior employee &ndash of subsidiary ST Hospitality are assisting with the URA investigation.

 

Katrina said that the investigation is ongoing, and no charges have been filed against the group nor any of the relevant persons as at Jun 25.

 

Formerly known as Straits Organization, ST Hospitality offers corporate serviced apartments under the brand of ST Residences and co-living hotel under ST Signature.

 

The hospitality business segment of Katrina also provides domestic household cleaning services to the customers staying in service apartments and co-living hotels under SO Services.

 

Following its rebranding in 2020, ST Hospitality had appointed property veteran Tan Juay Hiang as senior adviser to the group to assist with its expansion plans and real estate diversification.

 

Tan was formerly managing director of Reit Investments at Ascott, CapitaLand' s wholly owned lodging business unit. Prior to that, he was CEO of Ascendas Hospitality Trust, which has since merged with Ascott Residence Trust.

 

Katrina&rsquo s hospitality segment raked in revenue of S$12.8 million for the FY2021 ended December &mdash accounting for close to a quarter of the F& B group&rsquo s total revenue of S$53.8 million.

TWO employees of a subsidiary of food and beverage (F& B) group Katrina Group are assisting with an investigation by the Urban Redevelopment Authority (URA), the company said in a bourse filing on Wednesday (Jun 22). 

 

The investigation involves possible breaches of the minimum stay requirement in respect of the provision of short-term accommodation provided by ST Hospitality and its subsidiaries. ST Hospitality is a subsidiary of Katrina. 

 

The duo consists of 1 senior employee and 1 junior employee, Katrina said, without giving any further details on their positions. The 2 employees had each received a notice dated Jun 16 about the investigation. 

 

Katrina said that the investigation is still ongoing, and no charges have been filed against the group nor any of the relevant people as at Wednesday.

 

It added that the board will make further announcements as and when there are material developments on the matter. 

 

DINING group Katrina Group, which includes brands Bali Thai and So Pho, anticipates a loss for FY2020 ended December, the Catalist-listed company announced in a Thursday bourse filing after the market close.

 

The expected loss is due to lower revenue amid the Covid-19 pandemic, as well as impairment losses on some non-current assets, Katrina said. It will announce its full-year results on or before March 1.

 

On June 30, Katrina Group founder, executive chairman and CEO Alan Goh Keng Chian acquired 285,000 shares of the Catalist-listed company at an average price of 10.93 cents per share. The consideration of the transaction totalled S$31,151. This took his total interest in the F& B group, with multi-cuisine concepts, from 88.59 per cent to 88.71 per cent.

 

This followed his acquisition of 169,100 shares at 11.63 cents per share between June 12 and 15. Mr Goh has gradually increased this total interest from 84.60 per cent as of the IPO on July 26, 2016.

 

Mr Goh heads the formulation of the group' s strategic directions and expansion plans in Singapore and overseas markets, and manages the group' s overall business development.

 

The acquisition also increased the total interest of Madaline Catherine Tan Kim Wah in Katrina Group. Ms Tan is the co-founder, executive director of the group and spouse of Mr Goh.

 

Between April 30 and May 4, Katrina Group founder, executive chairman and CEO Alan Goh Keng Chian acquired 630,000 shares of the Catalist-listed company at an average price of 11.3 cents per share.

 

The consideration of the transaction totalled S$71,313.

 

This took his total interest in the F& B group, from 88.24 per cent to 88.51 per cent.

 

He has gradually increased this total interest from 84.60 per cent as of the IPO on July 26, 2016.

 

Mr Goh heads the formulation of the group' s strategic directions and expansion plans in Singapore and overseas markets, and manages its overall business development.

 

The acquisition also increased the total interest of Madaline Catherine Tan Kim Wah in Katrina Group.

 

She is the co-founder, executive director of the group and spouse of Mr Goh.