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  1. from carbuyer: http://www.carbuyer.com.sg/?s=news_main&id=291 ALL ACROSS THE island, car prices are going up. Following the crash in premiums in February
  2. Quite anticipating, especially when there's no 100% tio. How many of you guys waiting for it too?
  3. Businessman Alan Ng, 45, left his gold Kia Carens overnight near his office along Upper Thomson Road on Monday. When he came back at about 9.30am the following day, he found the six-year-old car in floodwater as high as the wheels. He finally had the car towed to the Independent Damage Assessment Centre yesterday afternoon, where it is to be assessed so he can lodge a claim with his insurance company, NTUC Income. 'In the morning, the water was still a foot high,' he said. 'Water had got into the engine, and soaked the leather seats. I was shocked because you don't see such things very often in Singapore.' Motorists such as Mr Ng bore the brunt of heavy rains and flooding this week. At least four workshops The Straits Times checked with logged a 10 to 20 per cent increase in the number of vehicles booked for repairs this week. Most were in for minor damage, including dented boots, broken headlamps and smashed windscreens. Most were a result of vehicles colliding in the rain, they said. Mr David Tai, operations manager of Huat Heng Motor Trading, which is handling nine vehicles damaged in the floods, said: 'Only a few were serious ones, like the whole front damaged. In those cases, all the destroyed parts must be changed.' Depending on the age and model of car and extent of damage, motorists have to cough up from a few hundred dollars to fix a dent or scratch, to as much as $10,000 to change vehicle parts. Another workshop, A & C Autocare in Sin Ming Drive, received 20 to 25 damaged cars and vans in the past week - 10 per cent more than in the same period last year. Most motorists will get their insurance companies to foot the bill, but some prefer to settle in private to avoid increasing their premiums in the future, said Hock Wah Motor Workshop, which is handling close to 20 accident claim cases after the floods. 'The insurance premium is higher this year, so most owners opt for private settlement and repair by themselves,' said manager Evelyn Ong. NTUC Income, which has 140,000 private car policy holders, said payouts depend on the severity of the damage. A simple cleaning up of the upholstery costs about $3,000 to $5,000. If the engine is affected and needs to be overhauled, the repair cost can be in the region of $10,000, said a spokesman. 'So far, we have received two claims as a result of yesterday's flooding,' she added. Mr Kei Takasaku, a vice-president at American Home Assurance Company, which has 160,000 motor insurance policy holders, said it is assessing just one flood case currently. 'It's not serious damage. When floods occur, at least in Singapore, it's not like the cars are completely flooded to the roof,' he said. 'It's more like water seeping in from the door, or water getting into the engines and causing short circuits in the electronics.'
  4. http://www.theedgedaily.com/cms/content.js...47d800-6fa92b6c Road tolls to rise by up to 60% - source By Jalil Hamid Email us your feedback at [email protected] The government will announce on Dec 14 a sharp rise in road toll rates to help trim state subsidies, a source said on Dec 13, in a move that could spark a public outcry and raise inflation. Tolls will go up by as much as 60% and will affect users of five highways in and around the capital, Kuala Lumpur, said the source, who attended an official briefing on the matter. "The new rates take effect on Jan 1," the source, who declined to be identified, told Reuters . "That's our New Year present." A spokesman for the Works Minister confirmed that an announcement would be made at a news conference at 3.15pm on Dec 14. He declined to give details. Under toll concession agreements that critics say favour operators, the government has to reimburse operators if traffic volumes and revenues fall short of pre-agreed projections. Most of the highways were approved in the 1990s by the administration of then Prime Minister Tun Dr Mahathir Mohamad, which made privatisation and mega-projects one of its hallmarks. Works Minister Datuk Seri S Samy Vellu said recently the government would have to fork out RM2 billion in compensation to five highway operators if toll rates were not revised. The operators include listed firms Gamuda Bhd and Lingkaran Trans Kota Holdings Bhd (Litrak). Litrak operates the 40km Damansara-Puchong highway, where the toll is to rise 60%, to RM1.60 from RM1, the source said. "The real toll is RM2.10, so the government is still subsidising 50 sen for each user," the source said. Residents along the densely populated stretch had protested strongly against an initial proposal to levy a toll of RM1.50, forcing the government to fix it at RM1. Some 418,000 vehicles used the highway daily on average, reflecting a 14.5% compounded annual growth rate for the past seven years, rating firm RAM said in a review of Litrak. Government officials told the briefing that one reason for the shortfall in toll collection was due to motorists switching to alternative non-toll roads, the source said. The toll hikes, however, will not apply to Malaysia's biggest toll-road firm, Projek Lebuhraya Utara-Selatan (PLUS), a PLUS spokeswoman said. PLUS' rate increase is fixed at 10% every three years and the next increase is not due until January 2008. Malaysia's annual inflation was 3.1% in October year-on-year, down from a 7-year-high of 4.8% in March. -- Reuters
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