LTA suspends ofo's bike-sharing licence over failure to meet regulations

Bike-sharing firm ofo missed a Wednesday deadline to meet LTA's regulatory requirements, such as implementing a QR code-based parking system.
Bike-sharing firm ofo missed a Wednesday deadline to meet LTA's regulatory requirements, such as implementing a QR code-based parking system.PHOTO: ST FILE

SINGAPORE - Chinese firm ofo's licence to operate a bike-sharing service here has been suspended, the Land Transport Authority (LTA) said on Thursday (Feb 14).

This comes after ofo missed a Wednesday deadline to meet LTA's regulatory requirements, such as implementing a QR code-based parking system.

Ofo had failed to comply despite being informed of these requirements, the authority said.

It added that the firm - which has been operating in Singapore since early 2017 - has until March 13 to remove all its bicycles from public spaces.

"LTA will only lift the suspension if ofo meets all regulatory requirements," the authority said in a statement.

"LTA will continue to monitor ofo's efforts to comply and may cancel ofo's licence if ofo does not show satisfactory progress."

The Chinese firm was one of six companies awarded a licence to operate a bike-sharing service here in September last year.

 

However in December, ofo chief executive Dai Wei told employees that the firm was considering filing for bankruptcy. Last month, it was reported that ofo had shut down its international division.

 
 

Meanwhile in Singapore, ofo has vacated its Shenton Way premises, with Today Online reporting last month that the firm had laid off its operations team here.

The Straits Times has contacted ofo for comment.