The upcoming Cycle Asia Singapore has been postponed to next year, due to a lack of sponsors, said an announcement on the event's official website on Friday.
The mass participation event, which would have held its seventh edition this year, would have brought cyclists through the Marina Bay area and East Coast Park before ending at the F1 Pit Building,
It was supposed to be held in two weeks from April 10-12, but it will now be pushed back by 12 months, noted organisers Spectrum Worldwide.
It said: "After much consideration it is with great disappointment that we have made the difficult decision to postpone the Cycle Asia Singapore event to April 2016.
"Spectrum Worldwide has always been committed to delivering safe, top quality experiences for our participants. Unfortunately the current sponsorship environment has made it very difficult for us to secure a new Title sponsor that would enable us to meet these objectives for Cycle Asia Singapore this year."
Cycle Asia Singapore is one of two mass-cycling events in Singapore this year. The other is the OCBC Cycle on Aug 29-30, which will see selected races finish inside the National Stadium for the first time.
This year's Cycle Asia Singapore had seen more than 10,500 cycling enthusiasts sign up across six ride categories.
Organisers have offered three options for those who have paid the entry fees. They can either opt for a full refund which will be given by May 8, or use the paid fees for credit for next year's event, or transfer the entry for the Cycle Asia Kuala Lumpur, which will be held from June 12-14.
Regardless of which option chosen, paid participants will still be able to collect their limited edition Cycle Asia Singapore cycling jersey, T-shirt and goody bag from the F1 Pit on April 10 between 10am to 10pm.
Said Spectrum Worldwide: "We apologise for any inconvenience and disappointment that this postponement may cause. This difficult decision was made only after we had exhausted all feasible solutions."