LTA will continue to monitor Ofo’s efforts to comply with its regulatory requirements and may cancel the bike-sharing firm’s licence if it does not show satisfactory progress in meeting these requirements, said the authority.
SINGAPORE — Beleaguered bike-sharing operator Ofo has been suspended by the Land Transport Authority (LTA) for failing to comply with its regulatory requirements.
Responding to TODAY’s queries, the LTA said on Thursday (Feb 14) it had suspended Ofo’s operating licence and that the company will be required to remove all of its bicycles from public places by March 13.
The authority had earlier given Ofo up till Wednesday to reduce its bicycle fleet to the stipulated maximum fleet size of 10,000 and set up a QR-code parking system.
LTA said it “will only lift the suspension if Ofo meets all regulatory requirements”.
When asked if LTA would step in to manage Ofo’s assets if the firm does not remove its fleet of bicycles, the authority said that it would do so from March 14, “if necessary”.
“The primary responsibility for managing the bicycles lies with the respective operator. To manage taxpayer burden, LTA only steps in where necessary,” said its spokesperson.