In brief: Singapore regulator to take action against Ofo for breaching license condition

Ofo had a fleet size “significantly above” its maximum allowed number of 10,000, according to the Land Transport Authority (LTA). The regulator said it has “accordingly given notice to Ofo of our intention to take regulatory actions for the breach of this license condition.”

Except Ofo, five out of the six bike-sharing firms that were granted licenses to operate in Singapore have successfully downsized their fleets to meet a November 1 deadline imposed by the LTA.

Source: TodayOnline