Yahoo! Singapore News, 28 Nov 2011In implementing the CaseTrust spa protection scheme, which kicked in on 1 October, CASE said in a statement that it discovered that some spas collecting pre-payments from consumers are in "very shaky financial positions and are also engaging in questionable financial practices".
It said one spa service provider was operating at an expected annual loss of nearly $1 million, and yet its directors were borrowing $1.6 million from the company for personal use. Full story
