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Bike-Sharing Firm Mobike To Withdraw From S’pore

As swiftly as they arrived in Singapore so are they exiting.

According to a report on Channel NewsAsia, the Land Transport Authority (LTA) revealed that bike-sharing firm Mobike has made an application to seek consent to surrender its bicycle-sharing license in Singapore.

Mobike has also been reported to have withdrawn its applications for a PMD-sharing license and to increase its maximum allowed shared bicycle fleet size.

LTA revealed that it is currently assessing Mobike’s request, and “will work with the company to ensure that it has fully explored all options, including its proposal to transfer existing assets or operations to existing licensees, to minimise impact to consumers”.

In the case that its application to surrender the license is granted, Mobike will be required to conduct a “proper exit”.

This includes removing all bicycles from public places and providing refunds for user deposits and pre-paid credits.

Just last month, bike-sharing firm ofo’s operating license was suspended by the LTA, and was required to remove all its bicycles from public places.

Also Read: LTA Suspends Ofo’s License – Orders Removal Of All Bikes By 13 March Or Risk Termination

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