I haven't tried oBike as I am already customer of two other bike rental schemes in my town (Munich) but from what I see when looking at those and from reports they are really bad in quality and comfort.
As an example here a (German) video comparing oBike and a "normal" bike rolling down a small hill: https://youtu.be/9bTnwJc5gzc
There are probably better ways to spend those bucks.
German c't magazine did a review of various rental bikes in Germany and found OBike to be the worst by far. They also got their hands on an offer for their bikes. Apparently these bikes cost 69€ (S$112) if you buy 1000 of them.
What happens to the bikes then? I can imagine they're being stored left and right now.