A yellow Ofo bike was photographed chained outside a flat when it is supposedly part of the sharing economy.

This is one of the reasons why Singaporeans cannot have nice things.

There are three major bicycle-share providers in Singapore: Local start-up oBike and two other China-based Ofo and Mobike.

The premise of the bicycle-sharing scheme is simple: Download the app, locate the bicycle, unlock it using the code provided, ride and payment is deducted after locking the bicycle.

The winning idea is that the bicycles can be parked at any location that is convenient for the next person to pick up.

Currently, all three bicycle-sharing companies have launched thousands of bicycles all over Singapore almost overnight.

White Obike bicycles are already available for rent at almost every MRT station.

Ofo has launched about 1,000 bikes in areas such as Punggol and West Coast Park and in the city area. They only started in Singapore in early February 2017.

Mobike officially started its services on March 21, 2017, and is targeting tertiary institutions.

The rates are as such:

oBike: S$1 half an hour

Ofo: Currently free but will charge in the future

Mobike: S$0.50 for half an hour

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