More than 70 per cent of oBike's fleet removed in Singapore since 5 July
More than 70 per cent of oBike’s estimated fleet size of 40,000 to 50,0000 bicycles have been removed from public spaces in Singapore following its abrupt exit from the country in June.
The LTA told Yahoo News Singapore that oBike’s provisional liquidators have made “significant progress” in removing its bicycles. The company have removed more than 35,000 bicycles since 5 July.
The authority also said that oBike’s provisional liquidators have arranged for a creditor’s meeting on Thursday to address questions pertaining to the closure of its business in Singapore.
Among the issues to be discussed is “user deposits, for which oBike founder Shi Yi had personally committed on 1 July to provide a full refund”, added the LTA.
“The LTA and the relevant organisations, such as PDPC and CASE, will continue working closely with the company’s provisional liquidators and oBike’s global office to ensure that oBike exits the market in a responsible manner,” said the authority.
Members of the public who wish to report locations of oBike bicycles can send an email to obikelocated@fticonsulting.com.
oBike – which launched its services in Singapore in February last year – had earlier on 25 June cited “difficulties foreseen to be experienced to fulfill the new requirements and guidelines released by the LTA” as the reason for ending its services in Singapore.
Under the LTA’s new rules, bicycle-sharing services here will have to submit their applications for operating licenses by 7 July. The move is aimed at addressing growing complaints of indiscriminate parking by shared bicycle users.
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