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SG FIVE STARS TRAVEL KAPUT, sign of bad times

DollarsNoSense

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Loyal
http://www.zaobao.com.sg/realtime/singapore/story20140108-297209

伍星旅游疑因财务问题倒闭

(联合早报网讯)伍星旅游疑因陷入财务问题,今天下午宣布倒闭,相信将有不少在新年期间北上回马来西亚的乘客将受此影响。
伍星旅游是本地一个有名的旅游机构,提供从新加坡到马来西亚热门目的地的巴士服务。总部在牛车水珍珠坊。(本报记者:林子恒)
- See more at: http://www.zaobao.com.sg/realtime/singapore/story20140108-297209#sthash.qHq1mf92.dpuf
 

po2wq

Alfrescian (Inf)
Asset
... 提供从新加坡到马来西亚热门目的地的巴士服务 ...
a clear cut case sabo-ed by dat 154th ...

if dat 154th had not published so many exaggerated stories on hi crime rates in msia, dey wun nid 2 go close door! ...

dey shud sue dat 154th until their pants drop ... :mad:
 

DollarsNoSense

Alfrescian
Loyal
hope u can resolve this, its not just you, the many who are going to Malaysia, especially for CNY…. heard the boss is assisting the police in the investigation.

What a shit! just bought 2 tickets to Genting Highland on Monday 5 Star Travel
now kaput!!
 
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laksaboy

Alfrescian (Inf)
Asset
http://sg.fivestarsonline.com

Oh dear, even the website is kaput.

What a shame. RIP Five Stars Travel.


X5jPY6y.jpg




[video=youtube;8msSb6r8PzU]http://www.youtube.com/watch?v=8msSb6r8PzU[/video]
 

DollarsNoSense

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Loyal
market talk has it that Five Stars has been closing its outlets and retrenchment since last year, financially down the hill...owed 1-2 months of employees' salaries before winding up shop. Many businesses in Singapore rolling money type, once money flow gets choked at some part, the business stalled. Bosses pay themselves big money, who cares, its banks' monies. Borrow here and there and still draw salaries for themselves. Next sector to go will be the electronics retail businesses which survive on money rolling and principle and wholesalers give 30-90 days credit…. they have been struggling badly for a year now
 
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streetcry

Alfrescian
Loyal
伍星旅游申请清盘 8间店面全面停业

伍星旅游申请清盘!伍星旅游所有分行全面停业,许多订票回家过年的顾客大受影响。
据了解,伍星旅游负责人今天已到警局备案。伍星旅游设在珍珠坊的总公司从今天下午起也大门深锁,员工进出时都神情凝重,看到记者上前都刻意避开,一些顾客原本上门买票,也扑了个空。
记者拨电联络负责人和伍星旅游的7间分行,也无人接听电话。
还有大约20天就是农历新年了,许多在新加坡工作的马国人都纷纷抢购车票回国过年,此外也有许多国人纷纷出国游玩,伍星旅游突然倒闭,相信有大批顾客都受到影响
- See more at: http://wanbao.omy.sg...h.YQo28FWT.dpuf

怀疑陷入财务问题,伍星旅游总部的大门下午深锁。据了解,伍星本地所有办事处都关门了。据大厦业主声称,伍星已拖欠好几个月租金。大厦职员目前守在现场。同行得知消息,纷纷到场探査。

--狮城6点半/ 晚间新闻 Ch 8 news


2014_0108_ln_fivestars_0.jpg
 

The_Hypocrite

Alfrescian (Inf)
Asset
That is why I say its good to be boss


market talk has it that Five Stars has been closing its outlets and retrenchment since last year, financially down the hill...owed 1-2 months of employees' salaries before winding up shop. Many businesses in Singapore rolling money type, once money flow gets choked at some part, the business stalled. Bosses pay themselves big money, who cares, its banks' monies. Borrow here and there and still draw salaries for themselves. Next sector to go will be the electronics retail businesses which survive on money rolling and principle and wholesalers give 30-90 days credit…. they have been struggling badly for a year now
 

laksaboy

Alfrescian (Inf)
Asset
market talk has it that Five Stars has been closing its outlets and retrenchment since last year, financially down the hill...owed 1-2 months of employees' salaries before winding up shop. Many businesses in Singapore rolling money type, once money flow gets choked at some part, the business stalled. Bosses pay themselves big money, who cares, its banks' monies. Borrow here and there and still draw salaries for themselves. Next sector to go will be the electronics retail businesses which survive on money rolling and principle and wholesalers give 30-90 days credit…. they have been struggling badly for a year now

And I believe some of the abandoned shop space of Five Stars Travel outlets will be replaced by... moneylending shops.

Oh, the irony. And the sign of the times too. :wink:
 

DollarsNoSense

Alfrescian
Loyal
u are damn right! Be a boss that makes banks look like fools. This guy I know whose biz borrowed more than 500k from banks, lives in Sentosa cove, drives luxury car and constantly look for new biz partners to pump $ into the biz. Now, the best part is that this guy is a Singaporean PR! He can run off anytime.

That is why I say its good to be boss
 
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DollarsNoSense

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Loyal
yes, moneylending shops all over town…. signs of what's coming so better be prepared.

And I believe some of the abandoned shop space of Five Stars Travel outlets will be replaced by... moneylending shops.

Oh, the irony. And the sign of the times too. :wink:
 

laksaboy

Alfrescian (Inf)
Asset
About Us

Five Stars Tours respectably represent the five brothers of the Lim family and with the solidarity of the five hearts, they would and will endeavor with their boldness, to glow and grow in the tourism industry. In Chinese "伍星 - Wu Xing" is homonymic to "五星 - Wu Xing ", and as suggested in English, Five Stars also resembles the ultimate quality and standard. Adjunction with the composing of radical “イ- literally means: Human”, the name is known to have intensified with the "people-oriented" philosophy.

Five Stars Tours first started as a moderate outlet located at The Adelphi next to the current location of today's High Court. As the saying goes, “Everything is difficult at the outset”. The business was challengingly started up with some unacquainted tour packages and focused mainly on the express bus services. A few years later, to meet the increased demands for express bus services, the company was relocated to Golden Mile Complex, where business gradually grew and prosper.


The tourism industry is filled with high risk and brimming with endless unpredictable destructive impacts that impede traveling. The incidents which have stricken Five Stars Tours severely, were the “financial crisis” in 1997, "911" in 2001, "SARS epidemic" in 2003, the “economic downturn" in 2009 and the latest "H1N1 influenza" which has adverse impact on the company and had disastrously plunged Five Stars into unprecedented deep waters. However, with the persisting faith of the "people-oriented & customer-friendliness" values, our Managing Director, Mr. Ken Lim cagily led the entire company with his beliefs, and eventually managed to overcome the challenges and difficulties; breaking through the difficult times. As Mr. Ken Lim confidently believes, an invulnerable organization can only achieved with genuine "sincerity" and “integrity”. Hence, he called up for restructuring and coalesced Gunung Raya Travel & GR Travel after the setback, to restore the momentum & morale of Five Stars Tours.

Over the last two decades, Five Stars Tours has expanded across the island with 8 branches, more than 200 dedicated staff, and a growing customer base of more than 300,000. Currently, with the new head office relocated to People’s Park Complex, Five Stars Tours face aggressive competition amidst the other travel agencies. To remain competitiveness, Five Stars Tours is determined to provide comprehensive one-stop hassle free traveling services, and continuously make improvements on the quality of existing tour packages and express bus services. Besides being proficient in the services of express coaches, flight booking, holiday cruises and worldwide tour packages, Five Stars Tours also provides travel insurance and visa application services. We also have a team dedicated to provide tailor-made tours to meet the varying and increasingly personalized requirements of individuals, groups as well as corporate travelers. In conjunction with the opening of the integrated resorts, and to meet the local and foreign demands, Five Stars Tours has also introduced a series of domestic traveling packages.

Come drop by our outlets, and be inspired by the worldwide destinations beyond your expectation, by land, by air or by sea, it is all your choice to make.


Our scope of services includes:

Air-conditioned Coach Services
Reputed as one of the oldest brand name with an entire spectrum of coach tour packages. Five Stars Tours provide One-way or Two-way coach trips to major parts of Malaysia. Our Executive coaches are well equipped with electronic snoozer seat and personal entertainment that pampered you right from the start of your journey.


Star Cruises
Together with a multitude of gourmet cuisine, world class entertainment and great relaxing options, we’ll bring you, friends and family for a seamless and magical holiday onboard Star Cruises to experience or rediscover new sights and sounds.


Air Travel Services
Five Stars Tours Air Travel Services is dedicatedly inclusive with: international flight booking, tour packages, hotel reservation, proficient in travel insurance and visa application to meet the demands of our valued customers.


MICE / Incentive Tours
We have a group of trained personnel who specializes in tailor-made tour packages to meet the varying and increasingly personalized requirements of individuals, groups as well as corporate travelers.

Five Stars Tours - Let your journey begin with us!
 

Dark Knight

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Asset
Was it 5 stars travel agency or some other travel agency was the one who started providing the so called "luxury coach bus" tour package between S'pore and Malaysia in the early years of 2000? I think it's a double deck coach bus with very comfortable chair, meals and entertainment provided on board. Back then business was very good and they soon expanded their business to more outlets. Many competitors tried to copy the business concept but not so successful.
 

cheesecake

Alfrescian (InfP)
Generous Asset
Was it 5 stars travel agency or some other travel agency was the one who started providing the so called "luxury coach bus" tour package between S'pore and Malaysia in the early years of 2000? I think it's a double deck coach bus with very comfortable chair, meals and entertainment provided on board. Back then business was very good and they soon expanded their business to more outlets. Many competitors tried to copy the business concept but not so successful.

They too were not successful!
 

Poomer

Alfrescian
Loyal
And I believe some of the abandoned shop space of Five Stars Travel outlets will be replaced by... moneylending shops.

Oh, the irony. And the sign of the times too. :wink:

Agreed. The financial analysts gonna change their forecast soon.
 
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