ST Hospitality investigation: URA summons Katrina CEO for questioning
Katrina is the parent company of ST Hospitality.
Katrina Group’s CEO Alan Goh Keng Chian has been summoned for questioning by the Urban Redevelopment Authority (URA) over the possible breach of the minimum stay requirement by ST Hospitality Pte. Ltd. and/or its subsidiaries.
ST Hospitality Pte. Ltd is a subsidiary of the Katrina Group.
In a bourse filing, the food company said their CEO received the notice for an interview on 24 June.
So far, no charges have been filed against Katrina and the CEO over accusation against its subsidiary.
The board, meanwhile, said it will continue to monitor the progress of the Investigation and make further announcements as and when there are material developments on this matter.
Given the recent developments involving Katrina’s subsidiary, the board has advised shareholders and potential investors “to exercise caution when dealing in the shares of the company. “