The closure of Singapore-based bike-sharing firm oBike will certainly be cheered by many critics. Those who complained about the "eyesore" and "clutter" of indiscriminately parked bikes will be pleased to see them gone.

oBike has said the firm is unable to meet the tougher licensing rules introduced to crack down on bikes strewn randomly across the island. However, oBike also left the Melbourne market recently. It is possible the company was having financial difficulties with a huge fixed upfront cost and revenues trickling in slowly. So, maybe it used the rules as a convenient excuse.