SINGAPORE: Bike-sharing firm Ofo has to meet all regulatory requirements by Feb 13 or face suspension, the Land Transport Authority (LTA) said in a statement on Tuesday (Jan 15).
According to LTA, Ofo has "breached multiple regulatory requirements" despite being given "an ample preparation period" for compliance.
AdvertisementOfo did not reduce its bicycle fleet to the stipulated maximum fleet size of 10,000, despite multiple warnings and regulatory action taken against them.
In addition, Ofo also did not implement the QR-code parking system by Jan 14, LTA said.
"We view these as serious breaches of critical requirements. Therefore Ofo must meet all regulatory requirements by Feb 13, 2019, failing which LTA intends to suspend Ofo’s licence," said LTA.
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