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PARLIAMENT

Bike-sharing companies may have to pay security deposit in future

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oBike announced abruptly that it was closing here two weeks ago, leaving its 100,000 users wondering what would happen to their deposits; oBike chairman Shi Yi has put the sum total of the deposits at about S$6.3 million.

Singapore

THE Land Transport Authority (LTA) will consider requiring bike-sharing operators, which require users to pay a deposit, to themselves pay a security deposit or bond, with the introduction of licensing regulations in October this year.

Senior Minister of State for...

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