Singapore’s Land Transport Authority (LTA) has extended the deadline for Ofo to remove its bikes from the country, with the beleaguered bike-sharing firm on the cusp of signing a deal which could see the service resurrected.
LTA had originally told Ofo it had until Wednesday this week to remove its bikes from Singapore.
However, the agency has granted the Chinese company’s request for an extension, Channel NewsAsia reports.
Its decision to do so was influenced in part by Ofo’s success in implementing the country’s new QR-based parking regime, which requires bike-share users to scan a QR code to confirm they have parked their dockless cycle in a designated area.
Ofo has also reportedly informed LTA it is in “advanced stages of negotiations” to partner its Singapore unit with a third party.
Tech in Asia has reached out to LTA for further details.