The Land Transport Authority (LTA) has suspended bike-sharing company ofo's bike-sharing license in Singapore.

Despite being given an ample preparation period for compliance, ofo failed to meet the regulatory requirements as stipulated by its bike-sharing licence, according to Channel NewsAsia.

On Jan. 15, LTA stated that ofo had specifically failed to:

1. Reduce its maximum bicycle fleet size to 10,000
2. Implement the QR-code parking system in its app.

ofo subsequently had until Feb. 13 to comply fully with all the licensing requirements.

Since ofo failed to achieve the licensing conditions by the Feb. 13 deadline, LTA ordered ofo to remove all its bicycles from public places by Mar. 13, 2019.

LTA will only lift the suspension if ofo meets all of its licensing conditions.

If it fails to do so, LTA will cancel ofo's licence.

Here is LTA's full statement:

The Land Transport Authority (LTA) has suspended ofo’s operating licence with effect from 14 February 2019. Despite previous communications with ofo to comply with the regulatory requirements by 13 February 2019, ofo has failed to comply with these requirements, including proper implementation of the QR code system.

Given the suspension, ofo will be required to remove all their bicycles from public places by 13 March 2019.

LTA will only lift the suspension if ofo meets all regulatory requirements. LTA will continue to monitor ofo’s efforts to comply and may cancel ofo’s licence if ofo does not show satisfactory progress.

Read about ofo's financial problems:

Top image by Joshua Lee. 

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