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Brakes put on three of six bike-sharing companies
One has returned licence, another yet to put out bikes, LTA threatens to suspend the third
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Ofo has yet to surrender its licence, but reports have emerged on the closure of its overseas business units.
PHOTO: ST FILE
Toh Ting Wei
Three of the six operators licensed to run dockless bike-sharing operations since last October have failed to take off, as questions swirl over the industry's long-term viability.
Chinese bike-sharing giant ofo's future is now hanging by a thread. It has breached multiple regulatory requirements, and the Land Transport Authority (LTA) has threatened to suspend its licence. Ofo has yet to surrender its licence, but reports have emerged on the closure of its overseas business units.
