oBike Singapore owes at least S$1.7m to creditors, users
Documents seen by TODAY show the firm owes at least S$405,314 in deposits to more than 8,800 users. — TODAY pic
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Friday, 18 Jan 2019 7:47 AM MYT
SINGAPORE, Jan 18 ― oBike Asia, the bicycle-sharing firm’s Singapore-registered entity, owes at least S$1.7 million (RM5.16 million) to creditors and users, and in costs chalked up from its wind-up here, TODAY has learnt.
Based on documents — which exclude those for liquidator fees — seen by this news site, oBike Asia drew proof of debt from 30 or so creditors totalling S$743,189.
These include payments owed to town councils, suppliers and government agency, the Land Transport Authority (LTA).
The biggest proof of debt was from logistics firm West-Street Carrier (S$130,753), followed by the Bishan-Toa Payoh Town Council (S$85,660) and Channel Management Systems (S$84,682), which also provides logistics services. The LTA is owed S$15,000.
Claims made by 8,854 deposit-holders totalled S$405,314 as of October last year, the documents revealed, while FTI Consulting’s fees are understood to be around S$600,000.
