Chitchat Sinkies kena conned by Chink oBike.... O'no!

[Scrooball (clone)]

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oBike users unlikely to get back deposits, as firm undergoes liquidation
oBike announced on June 25 that it was ceasing operations in Singapore, saying it foresaw difficulties in meeting upcoming Land Transport Authority licensing requirements.PHOTO: ST FILE
PUBLISHED
JUN 26, 2018, 8:45 PM SGT
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Adrian Lim
Transport Correspondent

SINGAPORE - With bicycle-sharing operator oBike now in liquidation in Singapore, the chances for users to get a refund of their deposits are slim, say lawyers.
It is unclear how many people have unreturned deposits - up to $49 - which they placed with oBike to rent its two-wheelers, although some 260 customers have lodged complaints with the consumer watchdog against oBike so far this year.
Lawyer Steven Lam, a director at Templars Law, said when liquidators distribute the assets of a company to pay off its debts, the end users - who are unsecured creditors - are usually last in the pecking order.

"It means they may not get back a single cent," Mr Lam told The Straits Times.
The Business Times reported that oBike chalked up a loss of more than $4 million last year (2017), and owes unpaid fees to various service providers, including an unnamed logistics firm and a public relations agency, Ruder Finn.
When asked about oBike's financials, a source close to the company referred ST to the as yet to be named liquidators.

The source, which requested anonymity, would only say: "The local (Singapore) team will do the best to refund users but it will hugely depend on the liquidator."

Farallon Law Corporation's managing director Nicolas Tang said none of oBike's customers would be able to sue for the return of deposits during the liquidation process, when any legal action against oBike is not allowed under the Companies Act.
"This is to prevent any further deterioration of oBike's financial position," Mr Tang said.
Noting that oBike users have limited recourse at this stage, Mr Tang said they could consider pooling resources to engage a law firm to represent them as a class of users in the liquidation proceedings.
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However, this would be time consuming and long drawn, and "it is likely that their legal costs would be higher than their deposits", Mr Tang added.
News of oBike's liquidation came a day after it made an unexpected announcement on Monday (June 25) that it was ceasing operations in Singapore.
The reason it gave was that it foresaw difficulties in meeting upcoming Land Transport Authority licensing requirements.

The Consumers Association of Singapore (Case) said on Tuesday (June 26) most of the complaints it has received were lodged within the past two days, mainly about the non-return of deposits that were asked for months ago.

Concerns have also been raised about the personal data collected by oBike, which previously claimed that it had one million users.
Tech lawyer Bryan Tan of Pinsent Masons MPillay said: "Under the Personal Data Protection Act, if a company has collected data and the purpose for which it is being used comes to an end, the firm is required to delete it.

"The officers of the company are also personally responsible for that compliance."

Chinese-owned oBike, which rolled out in Singapore in January last year (2017), had an office in Commonwealth Lane, and at least 20 staff.
ST understands that no oBike employees have lodged any salary-related claims with the Ministry of Manpower.

 

[555]

oBike users unlikely to get back deposits

so the real business model is to get as many deposits as possible and then throw in the towel? OFO has also given up their plans in Aust and India.

It is better to get back deposits from other operators before they follow oBike's path.

 

[Scrooball (clone)]

Not a bad business model.

Collect deposits from thousands of Sinkies, then when regulations get tough, say FUCK U to all these gong cheebyes and close shop without returning the deposits.

Isn't it surprising to see that Singapore is a first world country with ZERO consumer protection rights? I am not even a cyclist who took up oBike service, but i am just pissed with the general state of how consumers in Singapore always gets fucked in the ass and companies can just get away!

 

[hofmann]

This is like the start of a bank run as people scramble to get their deposits back from all the shared bike operators.

Consumer protection sucks big time here.

 

[sweetiepie]

my uncle say KNN who is at fault here KNN
obike or users or lta or is nobody's fault KNN

 

[Hypocrite-The]

Not a bad business model.

Collect deposits from thousands of Sinkies, then when regulations get tough, say FUCK U to all these gong cheebyes and close shop without returning the deposits.

Isn't it surprising to see that Singapore is a first world country with ZERO consumer protection rights? I am not even a cyclist who took up oBike service, but i am just pissed with the general state of how consumers in Singapore always gets fucked in the ass and companies can just get away!

Actually Singapore is the best place to run a business because of the lack of regulations pertaining to Consumer protection. In other countries, such deposits are held in trust...not as actual P&L. So there is no protection at all. Anyway its always Caveat Emptor,,,so consumers get the short end of the stick,,and the 70% votes for it,,,so they get what they vote for. From this case, OBike announce they are not continuing the business they never state they were bankrupt. Now they state they were bankrupt. That is actually cheating.. And this is a good business model, get deposit and run away. No difference to those dodgy car deals and massage and beauty package deals. Good to be a business in singapore,

 

[maxsanic]

Out of the 3 main operators in Singapore, I believe obike is the only local Singaporean firm, ofo and mobike are China companies.

 

[zeebjii]

Out of the 3 main operators in Singapore, I believe obike is the only local Singaporean firm, ofo and mobike are China companies.

Many sinkies thought so, me as well, because a friend said so. I only just found just out the founder is a PRC! So clever to use the 'started in singapore' ruse to con sinkies. Sinkies really are easily conned!

 

[glockman]

Don't bother with the return of their deposit. Just hijack one O-bike, remove the locking mechanism, give it a nice paint job and you've just bought a bicycle for $49.

 

[AhMeng]

Don't bother with the return of their deposit. Just hijack one O-bike, remove the locking mechanism, give it a nice paint job and you've just bought a bicycle for $49.

Same sentiments. When the law cannot protect you, you have to resort to self remedy.

 

[eatshitndie]

Don't bother with the return of their deposit. Just hijack one O-bike, remove the locking mechanism, give it a nice paint job and you've just bought a bicycle for $49.

either they have not paid a dime or they are in arrears on their payments for the bikes, thus there's nothing to lose for them. they will junk them and leave the mess and the trash for locals to clean up. very typical tiong modus operandi. this one also going under. lelong lelong for less than $69.

 

[Reddog]

Owners of such businesses have connections with the right high places.

 

[sweetiepie]

Same sentiments. When the law cannot protect you, you have to resort to self remedy.

KNN the problem is that when you resort to self remedy the law come after you KNN

 

[AhMeng]

KNN the problem is that when you resort to self remedy the law come after you KNN

I always advocate that loanshark victims should arm themselves with a few choppers and parangs and ambush those runners who come to their homes to splash paint. If the law cannot help you, you have to help yourself.

 

[sweetiepie]

I always advocate that loanshark victims should arm themselves with a few choppers and parangs and ambush those runners who come to their homes to splash paint. If the law cannot help you, you have to help yourself.

KNN hope someday victims will carry out this and let's see will the law go after them instead of the loanshark KNN

 

[glockman]

KNN the problem is that when you resort to self remedy the law come after you KNN

It is most unfair that corporations can get away with swindling the man in the street. They owe pple their deposits, yet advertised to lelong their bikes for $50 each. They should've done the right thing and gave their customers a bicycle each to make up for their lost deposit. Sometimes, one needs to do what is necessary to even up things. If I were a victim, I would take a few O-Bikes, not just to be even but be one up.

 

[555]

Actually Singapore is the best place to run a business because of the lack of regulations pertaining to Consumer protection.

Oh yes! You know what's so frustrating about CASE?

They will ask you to pay to be their members before you can lodge a complaint. When you become a member, to make your money worthwhile, you start to complain about the smallest issues.

They will ask retailers to join them and they will CENSOR the complaints in public (ST will consult CASE before a CASETRUST Complaint kanna complain in their newspapers). Many retailers got unreasonable complaints from consumers (who find minor faults and refuse to pay) are also bullied by CASE unless they become a CASETRUST company.

If you are a retailer who faced such bullying, the best way is to immediately file a claim at small claims tribunal which will supercede CASE.

These are hard truths! CASE blackmails retailers and consumers.

 

[Hypocrite-The]

Don't bother with the return of their deposit. Just hijack one O-bike, remove the locking mechanism, give it a nice paint job and you've just bought a bicycle for $49.

Can grab 2 or 3...and cycle with family

 

[AhMeng]

KNN hope someday victims will carry out this and let's see will the law go after them instead of the loanshark KNN

It's OK. They borrowed from illegal loanshark first. They also deserve to be punished. Must as well drag the harassers down together, right.

 

[Hypocrite-The]

LTA instructs oBike to remove bicycles by next Wednesday
image: data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==
Two oBikes abandoned on a pavement after the company announced that it will cease operations in Singapore.
image: data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==
By Amir Yusof @AmirYusofCNA
28 Jun 2018 06:20PM (Updated: 28 Jun 2018 07:16PM)
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SINGAPORE: The Land Transport Authority (LTA) has instructed bike-sharing firm oBike to work with its liquidator to remove its bicycles from public spaces by Jul 4, the authority announced on Thursday (Jun 28). LTA said the instruction was made so that public streets would not be cluttered with bicycles that cannot be hired.
"Should there be unremoved oBike bicycles after this date, LTA will progressively remove these bicycles from public spaces," it said.

"oBike or its liquidator will have to pay the relevant towing and storage fees in order to claim impounded bicycles from LTA. In addition, LTA and CASE have emphasised to oBike the importance of refunding users their deposits which were placed earlier with the company," it added.
The Land Transport Authority (LTA) released the statement after it engaged oBike on its exit plans, amid concerns that its fleet of about 14,000 bicycles is currently left abandoned on streets, pavements and parks all over the country.
In a shock move, the bike-sharing operator announced on Monday that it had stopped operations in Singapore, citing difficulties in meeting the new requirements put in place by LTA to tackle indiscriminate parking.
CONSUMERS WILL BE UNABLE TO PURSUE LEGAL CLAIM AGAINST OBIKE: CASE

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In a separate statement on Thursday, the Consumers Association of Singapore (CASE) announced that as of 5pm, it had received 772 complaints from oBike customers asking for deposit refunds. The majority of the complaints were lodged over the last four days< CASE added.
CASE also said that as soon as oBike's liquidation commences, there will be a stay of proceedings on litigation action and customers will not be able to proceed with any claims against the company.
"Once the company is in liquidation, affected consumers should file their Proofs of Debt against oBike with the appointed liquidator. Consumers should also attach copies of any relevant receipts or other supporting documents to the Proof of Debt form," it added.
The watchdog added that, as a general principal, it encourages consumers to minimise their prepayments or deposits where possible, as their advance payment may be lost in the event of an abrupt business closure.
"Consumers who have reservations about paying a deposit may wish to consider other bike-sharing options that do not require a deposit payment or reduce their risk by choosing a per use option, where they pay a small amount of money each time they use the bike-sharing service," CASE said.

Read more at https://www.channelnewsasia.com/new...to-remove-bicycles-by-next-wednesday-10479682

https://www.channelnewsasia.com/new...to-remove-bicycles-by-next-wednesday-10479682