Katrina CEO to be hauled up for interview in relation to URA investigation

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 – a senior employee and a junior employee – 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.

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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.

In an email to The Business Times, Tan clarified that he left the position at ST Hospitality around the end of 2020, and is not involved in the possible breaches of URA policies.

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

Shares of Katrina closed flat at S$0.046 on Jun 24, after slumping 16.4 per cent on Jun 22 following the initial announcement of the URA investigation.