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Found 23 results

  1. Rumors? Test balloons. MLMLWML Rule against this, implemented in 2012 to address complaints that it was driving up car premiums, said to be under review Christopher Tan Senior Transport Correspondent Taxi operators may soon be allowed to compete with car buyers for certificates of entitlement again - a move which may fuel competition for COEs. Regulations banning cab firms from bidding for COEs were put in place in 2012 to address a longstanding gripe among car buyers and sellers that taxis were dri-ving up premiums and providing unfair competition. The Straits Times understands that those regulations are being reviewed, and it is possible that they could be reversed. The LTA, however, said that it would not comment on "market speculation". Even though taxis were almost always larger cars - which should rightfully be competing for COEs in Category B (cars above 1,600cc) - they were lumped with Category A (cars up to 1,600cc) in the past. It was not uncommon then for taxi companies to make up one-third of the bids submitted during a tender. With the removal of taxis from COE bidding, put in place by former transport minister Lui Tuck Yew, cab operators have been paying Category A's prevailing quota premium (PQP, or a moving average of past premiums). The move eased pressure on Category A almost immediately. But two years after the rule change, private-hire operators such as Uber and Grab started to grow their fleets and, unlike taxis, were allowed to bid for COEs. The pressure on prices eased when Uber pulled out of Singapore last year, but started to build up this year with the arrival of Indonesian ride-hailing firm Gojek. With Grab's fleet expansion, and smaller players like Ryde and Tribecar joining the fray, premiums are once again heading north. The Straits Times understands that allowing taxi firms to bid for COEs again could form part of an industrywide review of taxi and private-hire operations. Results of the review, conducted by the Land Transport Authority (LTA), are expected by the middle of this year. Industry players said they have been hearing about the possible change, although no one has been informed officially. Trans-Cab managing director Teo Kiang Ang said such a move would not be desirable as it is likely to drive up COE prices, translating into higher business costs. Premier Taxis managing director Lim Chong Boo said companies would have to make "strategic changes to the business model" if they are allowed to bid again. Motor traders expect the move, if implemented, to displace more private car buyers. For the past few years, private-hire operators have edged out thousands of car buyers with aggressive fleet expansions. Yet, many of the cars they bought lie idle. Mr Ang Hin Kee, adviser to the National Taxi Association and the National Private Hire Vehicles Association, concurred. "We have a zero car growth policy. This is not a very smart way of doing things," he said when asked what he thought about the massive idle fleet, estimated to number more than 2,000. Mr Ang, who is also deputy chairman of the Government Parliamentary Committee for Transport, had called for a cap on the taxi and private-hire car population. He pointed out that there are about 130,000 taxi and private-hire vocational licence holders, and too many drivers vying for commuters. Mr Ang said the age requirement for new taxi and private-hire drivers could also be raised to prevent an oversupply of drivers.
  2. The Land Transport Authority has announced that there will be fewer certificates of entitlement for the next three months starting from February. There will be fewer certificates of entitlement (COE) for the next three months starting from February. The Land Transport Authority (LTA) said the supply of Category A COEs, which are for cars up to 1,600cc, will shrink by 9.1% to 3,300 a month. Category B (cars above 1,600cc) will have 2.9% fewer certificates at 2,471 a month. There will be 26.4% fewer open category COEs, which are for all vehicles except motorcycles, at 784 a month. Commercial vehicle buyers and sellers will have 25.2% fewer COEs at 1,651 per month. And motorcyclists will see a 7.6% dip in their COE supply to 608 pieces a month. In total, the supply is 12.9% smaller than the November-January quota.
  3. The interest in new off-peak cars has practically disappeared as a result of sky-high Certificate of Entitlement (COE) premiums in recent months, with industry analysts predicting that recently-implemented car loan curbs may further dampen demand. Only eight new red-plated cars were registered last month, as compared to 96 registered in the same period two years ago. Figures from the Land Transport Authority (LTA) also showed that the number of normal cars converted to off-peak cars under the revised scheme fell to 761 in the past financial year, compared to the 1,361 cars that were converted between April 2010 and March 2011. Between April 2011 and March 2012, 857 normal car owners switched their rides to red plates. The proportion of red-plated cars has also shrunk in recent years. They now constitute about 7.3 per cent of cars here, as compared to a peak of 8.4 per cent in 2010. Then, there were 50,040 off-peak cars, as their numbers rose steadily between 2003 and 2010. The off-peak car scheme was introduced in 1994 to allow more people to own cars but not contribute to peak-hour congestion. Buyers paid lower taxes for such cars, but they could be driven only during evenings, weekends and public holidays. The scheme was revised in 2010 to make it more attractive for people to switch to these red-plated cars, with cash rebates given earlier and the vehicles allowed to be driven during all hours on Saturday and the eve of five public holidays. The LTA had previously envisioned that the enhanced off-peak car scheme could eventually lead to about 10 to 15 per cent of red-plated cars here, which it believed could reduce peak-hour traffic volume. Motor traders TODAY spoke to said that demand for off-peak cars usually wanes when car prices are high, as the S$17,000 tax savings would constitute a smaller percentage of the total car price. Said Singapore Vehicle Traders Association President Neo Tiam Ting: "The rebate is the same no matter what the car prices are. So, for example, a few years back in 2009, when car prices were about S$50,000, the rebates will take up a higher percentage as compared to now, when car prices are about S$100,000." Mr Ron Lim, General Manager of Nissan agent Tan Chong Motor, felt that the recently-enforced curbs on car loans will be a "further deterrent" for budget buyers who previously turned to off-peak cars. During the Ministry of Transport's Committee of Supply debate last month, Member of Parliament Lim Biow Chuan had suggested doing more to promote red-plated cars as an option for consumers who wished to fulfil their aspirations but may not need to drive every day. Contacted yesterday, Mr Lim suggested the authorities could consider giving a bigger tax rebate so that potential car owners can see the benefits of owning an off-peak car. SIM University's Head of Urban Transport Management programme Park Byung Joon suggested that the weekday timing restrictions on off-peak cars could be tweaked to make the scheme more attractive. Pointing out that that roads get congested mostly during the two peak hour time belts of 7am to 10am and 5pm and 8pm, Dr Park suggested that red-plate drivers could be allowed to drive any time outside of these 6-hour timeslots. Responding to TODAY's queries, the LTA said that "there are no plans to change the benefit structure (of the scheme) at this point of time". "The OPC (Off-Peak Car) scheme is an ownership scheme which allows motorists to own cars at lower cost, if they are prepared to use it sparingly," the LTA spokesperson added. "The tax benefits and usage conditions of the OPC are set upfront so that car buyers and owners can assess, based on their own travel patterns, whether or not an OPC would be able to meet their needs." Source: http://www.todayonline.com/singapore/numbe...dives-coes-rise
  4. http://www.channelnewsasia.com/news/singapore/number-of-coes-available-up-more-than-20-for-may-jul-period/3672410.html Before anyone (potential car buyer) starts to rejoice, please read into the details of the increase.... Classic anti-climax.
  5. Commercial vehicles & m/cycles are going up ... From CNA: Fewer COEs next quarter, but more for cars There will be 3,777 Certificates of Entitlement for bidding each month, down from the previous quarter's 4,019, LTA said. SINGAPORE: The Certificate of Entitlement (COE) quota for the period August to October this year will be 11,331, the Land Transport Authority (LTA) announced on Wednesday (July 16). This means the monthly quota of COEs will be 3,777 for the period, down from 4,019 in the previous quarter. However, the number of COEs available for cars has increased due to a drop in the monthly quota of COEs for commercial vehicles and motorcycles. The monthly quota for Category A cars (up to 1,600cc and 130bp) has risen to 1,143 from 1,011 in the previous quarter, while the quota for Category B cars (above 1,600cc or 130bhp) is now 1,010, up from 966 in the previous quarter. For the open category, which can be used for any vehicle type but ends up mainly for bigger cars, the monthly COE supply will be 478, down from the previous quarter’s 586. Goods vehicles and buses will have a monthly supply of 515, down from 770, and motorcycles will have 631, down from 686. The next quota announcement for the bidding period of November 2014 to January 2015 will be made in October 2014, the LTA said. - CNA/kk
  6. Accident both ways. See vid. Opp road not so clear. However, SLE>BKE looks like starlet?
  7. Why cant our Ah Lui be more creative in handling our COEs! Congested only means cut down on COE! WTH!always use the the easy way out.Y dun restrict PR in buying cars?or they pay higher COEs??Since we have world class transport! Owners with more than one car will have to pay a higher COE for the next and so on!?!Certain profession like sales people can have slight privilege in buying cars capped at certain category only? I think there are really many ways than only cut COE!!
  8. ALl these members of the public, analysts and MPs are talking nonsense. Didn't they hear what LTY said recently? The rising COE prices is actually due to the booming economy, he said IIRC. We should really be appreciative of that yes? From CNA: http://www.channelnewsasia.com/stories/sin...1204394/1/.html The road ahead for COEs By Sumita Sreedharan, TODAY | Posted: 30 May 2012 0534 hrs SINGAPORE: With the Land Transport Authority (LTA) due to complete a review by the end of the month - on the feasibility of increasing the supply of Certificates of Entitlement (COEs) - analysts TODAY spoke to called on the authorities to re-examine the system to address its volatility and to ensure social equity, with one even urging an overhaul. Most experts and observers felt that by and large, the system has worked. However, tweaks are in order, they said. Suggestions include temporarily allowing motorists to sell their COE back to LTA at the market price, allocating a certain number of COEs to different income brackets, having a fixed quota of COEs every year and having an additional category for luxury cars. As COE premiums hit record levels in recent months, members of public have questioned the 22-year-old system. In a letter published on May 18, TODAY reader Chua Yao Kun argued that the COE system "has proven to be a blunt tool". Apart from contributing to inflation, he argued that the COE system has resulted in vehicle ownership being increasingly concentrated in the hands of the rich, rather than being allocated to activities that promote economic value. The letter has since garnered 1,700 'likes'. National University of Singapore transport researcher Lee Der Horng felt the COE system needs an overhaul. "The affordability (of a car) is not equal to the true desire or need to have a vehicle," he said. One way to address the issue of social equity is to allocate a certain number of COE to different income brackets, said UniSIM School of Business urban transport management expert Park Byung Joon. Nevertheless, such a method is "easier said than done", Dr Park noted. He added: "Who will evaluate the level of needs of each family and how? We may end up with having a bureaucratic monster, not necessarily better than COE system." Pasir Ris-Punggol Group Representation Constituency MP Gan Thiam Poh, who is on the Government Parliamentary Committe for transport, concurred: "It will be difficult to assess whose needs are more pressing and it will be difficult to satisfy everybody." Assoc Prof Lee suggested a balloting system. However, he noted that doing so could make the situation worse if it encourages the "entire population" to try their luck. "But then again, such things can be prevented much in the way the HDB has the rule that you can only sell your flat only after five years. If implemented for cars as well, it would ensure car owners know their responsibility and will have to take care of the car for the next five years," he added. To address the volatility, Assoc Prof Lee suggested a more stable COE supply. Having a new category for luxury cars could also ensure that those who can afford it can pay more, he added. HAS COE SYSTEM WORKED? Overall, Dr Park believes the system has achieved its objective. "Without the COE system, the Singapore roads would become even more congested," said Dr Park. He pointed out that the current situation is due to the oversupply of COE between 2004 and 2008 - during that period, Singaporeans enjoyed relatively low COEs, he noted. "The COE price is determined by the market force of supply and demand.. When supply decreases in such a huge number, it is not surprising that COE price drastically increased," he said. Mountbatten MP Lim Biow Chuan, who is also on the GPC for transport, said the COE system has "worked to a certain extent". "The question now is how it can be tweaked as people are feeling the pinch and there have been various requests and proposals," said Mr Lim. Apart from the COE system, some MPs were concerned at the ease with which prospective buyers are able to finance their cars. These days, some banks are even offering on-the-spot approval for car loans. Mr Lim suggested "cutting financing so that you do not allow people who cannot afford cars to leverage payments they may not be able to finance". Ang Mo Kio GRC MP Ang Hin Kee cautioned against implementing "stop gap measures" which could throw the Republic's long term plans "into disarray". The entire transport system should be looked at in its totality before any tweaks to the COE system are made, he stressed. - TODAY
  9. I think blogger is right! Source ---- http://unbrandedbreadnbutter.wordpress.com...-and-cat-a-coe/
  10. SINGAPORE: Some 22,300 Certificates of Entitlement (COE) will be made available for the six-month period from August 2011 to January 2012, the Land Transport Authority (LTA) said on Friday. The 22,324 figure is hardly changed from the quota of the previous six months, which was 22,368. The new quota works out to 3,720 COEs monthly. LTA said the quota consists of three components, including a provision for 1.5 per cent vehicle growth based on the vehicle population as at end December last year. The other two components are replacement COEs for vehicles de-registered between January and June 2011, and adjustment for over-projections of vehicle de-registrations in 2008/2009. Bidding under the new quota will start with next month's first open bidding exercise. The next COE quota announcement - for the COE bidding period from February 2012 to July 2012 - will be made in January 2012. LTA added that the 1.5 per cent vehicle growth rate, which is valid for three years from 2009 to 2011, is currently under review. It will announce the growth rate from 2012 once the review has been completed. source - CNA/ al So will the COE price go north, south or stay at the equator?
  11. There is an article in 6 July TODAY on the successful and popular public transport system in a Scandanavian country where trains and buses are the main mode of transport for the people without the use of COEs to deter and control car ownership. The report says, to achieve this, the government in that country has put in $23 billion in the past 20yrs++ for public transport infra structure. Lets check if sgp govt has the same amount of money to do the same.... lets say if govt use the accumulated COEs collection to spend on infra structure for public transport, how many years of COEs collection is needed to afford $23b infra structure? For each series of car number plate, there are 9999 cars, if the average COE price is say 20k, this means $199,980,000, say $200m. From 2006 till today, we have SGL, SGM, SGN, SGP, SGQ, SGR, SGS, SGT, SGU SGV, SGW, SGX, SGY, SGZ, SJA, B, C, D, E, F, G, H, J, K, L , M, N, P, Q, R, S, T, U, V, W, X, Y, X.... about 38 series of number plates in 6 years. Total "revenue" from COEs sales by govt = $200m x 38 = $7,600m!! (2006 to 2011) this is enough to build a good public transport system over a 16-18 years period (to collect sufficient COE fees) comparable to that in Scandanavia.
  12. Everyone complain about the high COEs prices and overpopulated car ownerships in Singapore, but there seems to be no solutions. I hate people who likes to complain but offer no solutions. So I propose some ideas of mine.. 1. COE. Scrap the current, all successful bidders will pay the minimum COE price for that bidding. New changes, for example, there are 1000 COEs but 2000 bids for them. So 1000 successful bids will pay the COE prices accordingly to what they have bidded. Some will pay few dollars for their COEs while some will pay tens of thousands for their COEs. This will keep the COE prices in check. 2. One household/address can only own 1 car. If within that same household/address, want to own a 2nd car or third car, can.. For the 2nd car, pay 1.5 times the price of the more expensive car. The 3rd car, pay 1.75 times. 4th, pay 2 times. Of course you may say, register the address to another address, where there is no car ownership, can.. no problem, just pay $$$ to keep the bugger from exposing the deed. But when dealing with $$$, sure will have some arguments and most likely will kenna exposed.. Thanks for reading, how's my solution to the overpopulated car ownership in Singapore?
  13. Allow existing holders of COEs to register new cars under same COE???? http://imcmsimages.mediacorp.sg/CMSFileser.../1301VOC016.pdf Letter from Fong Chee Wai IT IS clear that the supply of new Certificates of Entitlement (COEs) cannot satisfy current demand, despite the Government saying it will spread the reduction in COEs over three years (
  14. Implement one or a combination of the things below: 1. 5 years COEs only 2. No extensions of COEs after current ones expire. 3. Allow private cars to be rented out; unlike currently, too many preconditions for private car rental. 4. Only household owners can bid for COEs. If own multiple properties, still only allowed to own one COE. If your spoilt son wants a car, tell him to get a job and own a home first. 5. Make cars and COEs non-transferrable. You cannot afford to continue paying for your car, you scrap it. No sentimentality here about saving the environment; you're driving after all. 6. And lastly, if your spolit son still demands a car, his father must be above 70 years old (going to die soon), and has at least $100K in his CPF willed to LTA. He will then get a free COE.
  15. COEs for all vehicle categories surge in latest bidding exercise By Mustafa Shafawi | Posted: 24 March 2010 1721 hrs Photos 1 of 1 SINGAPORE : COE premiums for vehicles across all categories surged in the latest bidding exercise that ended on Wednesday. The highest increase was in the Open category, where premiums jumped S$14,411 to S$42,001. COEs for big cars rose S$9,700 to S$36,089. Premiums for small cars jumped S$7,587 to S$28,389. COEs for commercial vehicles rose S$5,889 to S$32,890. Motorcycle COEs rose S$41 to S$1,200. This bidding exercise is the last under the current quota system. From next month, a new system to determine COE quotas will kick in. This will result in fewer COEs available monthly from April to July. - CNA/ms
  16. Ahyoo2002

    Big drop in COEs ahead

    Mar 12, 2010 Big drop in COEs ahead By Christopher Tan, Senior Correspondent From next month, there will be a bigger-than-expected cut in certificates of entitlement (COEs) needed to buy vehicles. -- ST PHOTO: TERENCE TAN FROM next month, there will be a bigger-than-expected cut in certificates of entitlement (COEs) needed to buy vehicles. With almost 30 per cent fewer COEs available each month, car traders foresee premiums rising soon to between $30,000 and $35,000, from around $25,000 now. The biggest reduction of close to 40 per cent will be for COEs for cars up to 1,600cc, the mainstay of car buyers. The reduction is the result of a new formula unveiled yesterday in Parliament to determine the number of new vehicles allowed. It will be based on the actual number of vehicles taken off the road, and not a forecast of vehicles to be deregistered over 12 months. With the new formula, as well as adjustments for an oversupply of about 17,000 COEs in the last two years, the monthly supply from April to July will plunge to 4,238. Read the full story in Friday's edition of The Straits Times. christan@sph.com.sg
  17. CERTIFICATES of Entitlement (COEs) for cars and commercial vehicles all zoomed past $20,000 at the latest tender on Wednesday. These are the highest premiums for cars in six years, and for commercial vehicles in eight. Industry players said recent sales promotions whipped up a demand for new vehicles and fuelled bidding, as did an anticipated cut in COE supply from April. Car COEs all posted double-digit gains: The premium for cars up to 1,600cc climbed 10.8 per cent to $20,501; and for cars above 1,600cc shot up by 16.7 per cent to $22,400. The Open COE category, which can be used for any vehicle type but ends up mainly for cars, rose by 10.1 per cent to $21,899. Commercial vehicle COEs edged up 5.7 per cent to close at $20,090, the highest level since 2002. Only motorcycle COEs dipped - by 4.1 per cent to end at $852. Motor Traders Association (MTA) president Tan Kheng Hwee said besides ongoing discounts and promotional offers on cars, a rush to deliver vehicles ahead of Chinese New Year next month has also contributed to the spike in COE prices. http://www.straitstimes.com/BreakingNews/S...ory_480094.html
  18. CERTIFICATES of entitlement for cars and commercial vehicles ended sharply higher to end above $20,000 across the board at the latest tender on Wednesday. COE for cars up to 1,600cc closed at $20,501, about $2,000 higher than its previous rate. The premium for cars above 1,600cc hit $22,400, some $3,200 more. Open COE, which can be used for any vehicle type but ends up mainly for cars, finished at $21,899, about $2,000 higher. All these rates are the highest since 2004. Commercial vehicle COE ended at an eight-year high of $20,090, more than $1,000 higher than before. Motorcycle premium was the only exception. It finished at $852, $37 lower than its previous price. Motor traders said fierce price cutting among major dealerships in the last two weeks had whipped up demand. An expected reduction in COE supply from April had also fuelled bidding, as motor firms with orders in hand attempt to fulfill them before the quota cut.
  19. Source: http://motoring.asiaone.com/Motoring/Motor...510-140405.html what a load of BullSh*t ! Can you guys imagine bankers and all those suits cycling around Shenton? And if they really wanted to discourage car ownership, wouldnt the BEST way be just to make COE back to the highs of 30-40k ? there weren't congestions back then like today :) and what the crap is with each road having no more than 2 buses!!! hey if we had 100k COES next month onwards than perhaps this is possible
  20. COEs quota to be cut Wed, Sep 17, 2008 The Straits Times THE Land Transport Authority is expected to announce a cut in COE numbers for the October-March period later on Wednesday. Motor industry sources reckon the reduction to be anywhere between 10 and 20 per cent, with the car COE supply bearing the brunt of the mid-quota year adjustment. The announcement is likely to come after the end of Wednesday's tender execise at 4pm.
  21. Home > ST Forum > Story July 7, 2008 I AM confused and annoyed by policies affecting car ownership in Singapore. As a motorist, I am of the view that there are more and more cars on the roads nowadays, so the Government has to set up more Electronic Road Pricing (ERP) gantries and raise ERP rates to control traffic. My question is simple. What happened to the original purpose of the certificate of entitlement (COE)? Isn't it supposed to be the ultimate tool to limit the number of cars on the road? If the COE is doing its job well, why are the roads so choked that the authorities have 'no choice' but to set up ERP gantries everywhere to control traffic? Let's see what went wrong. First, for the past few years, the number of COEs grew, and car prices tumbled to a low five-figure sum. Second, car loans stretched to 10 years, with banks and dealers offering cash-back deals and zero downpayments. Third, additional registration fee taxes were reduced. The road tax has also been lowered. Simply put, the measures made cars cheaper and many people flocked to buy them - and many of those shouldn't own a car at all. I estimate at least half the car owners today earn less than $5,000 a month. Why are they buying a car? With ever-increasing oil prices and inflation, one will soon need to pay more than $1,500 a month for a small Japanese car, including loan instalments, petrol, maintenance and repair, parking, road tax, insurance and so on. And now, the new scheme will allow cash rebates to scrap cars, in order to turn drivers back to public transport. This is not wrong, but we are not using the system correctly. In the first place, we should make it very difficult to own a car, but we are doing the exact opposite by making it easy for people to own a car and subsequently 'converting' them back to public transport. This is moving one step forward and two steps back. Asking a car owner who has been driving for a decade to convert back to taking buses is like asking someone who is used to getting water from the tap to fetch water from a well again. A better solution is to limit car loans to five years, with a minimum 50 per cent downpayment. This will weed out thousands of people who can ill-afford a car. And yes, make the COE useful again by releasing fewer of them. Tan Wee Liang
  22. Who validates and verifies that cars are moving at optimum speed? -ST Lee Su Shyan Mon, Jun 30, 2008 The Straits Times I AM puzzled by the recent announcements on the impending Electronic Road Pricing (ERP) rate changes, with effect from July7. I vividly remember reading a Straits Times article in March or April this year on a Land Transport Authority (LTA) report on the benefits of introducing ERP in Orchard Road. The report stated that before ERP was introduced, retailers were worried the measures would drive away customers. However, instead of business going downhill, retailers in Orchard are enjoying record boom. One reason was that ERP deterred motorists who used Orchard Road as a thoroughfare, and genuine shoppers flocked there to shop. The report also stated that car speeds were an optimum 20kmh to 30kmh, and ERP gantries in Orchard succeeded in keeping down traffic. Now, on June 17, the LTA announced that car speeds in Orchard have fallen considerably, ERP charges will go up from $1 to $2 and operating hours on Saturdays will be from 11.30am to 8pm. My question is, who validates and verifies that cars are moving at optimum speed? Who checks these reports? Who decides that, three months ago, the speed was optimum, but now it is no longer so? One possible reason is that there are more cars on the road now. Cars are cheaper, application for car loans is easier, COE prices have dropped considerably, and rebates are given to motorists who switch to CNG cars. The LTA controls the number of COEs issued, and although it says it will control the number of COEs issued because of highly congested roads, many policies are implemented to make car ownership easier. So why does the LTA continue to issue COEs, even though it stated in a report last year that COEs issued are way above the stipulated quota - 9 per cent instead of 3 per cent? And after issuing so many COEs, the LTA introduces ERP gantries everywhere with higher prices and longer operating hours to discourage vehicle use. Why not control the issuing of COEs in the first place? I hope the LTA can shed some light on these apparently contradictory policies. Jennifer Wong (Ms) http://news.asiaone.com/News/AsiaOne%2BNew...0630-73557.html
  23. THE COE MARKET sank steadily this week, providing evidence that motor traders