Wed, Feb 14, 2018 – 6:41 PM
THE board of travel website Asiatravel.com announced it is taking steps to streamline the group’s business and focus on profitability after undertaking a “comprehensive review” of its various businesses.
The group announced – after the market had closed – that it will undertake a restructuring exercise to divest, close and scale down lossmaking business lines and subsidiaries.
Under the exercise, the group intends to move its central Singapore operations to the Philippines, where it says it holds a leading position and enjoys “significant” market share.
It also intends to scale down its business-to-consumer (B2C) business, and close B2C units in all other operating destinations and manage its operations…
Read the full article at: http://www.businesstimes.com.sg/companies-markets/asiatravel-announces-restructuring-exercise-singapore-hq-to-be-shifted-to