Could the end of $100,000 COE prices finally be in sight? Likely not, it seems. Minister for Transport S. Iswaran announced in Parliament on Monday (May 8) that the upward trend of COE prices 'will not abate'. Iswaran was delivering a Ministerial Statement in response to Parliamentary Questions from several Members of Parliament (MP) relating to the demand and cost...
Minister for Transport S. Iswaran announced in Parliament on Monday that the upward trend of COE prices "will not abate".
Incomes, he added, have also been rising over the long term, pointing out a recent report by Professor Raymond Ong last Sunday, which stated that the He added that the Ministry of Transport has, over the past few months, made "several moves" to reduce the volatility in quota supply. This includes using the moving average of de-registrations in the four preceding quarters to compute COE quotas.He also announced that the LTA will bring forward and redistribute the supply from 5-year COEs due to expire in the next projected supply peak.
In a statement on Monday, LTA said it will redistribute about 6,000 five-year COEs gradually over the next few quarters, starting from the next bidding exercise which begins on May 15.Less than 3% of car COEs allocated to foreigners: Iswaran "Conversely, while COE prices have been rising over the past several quarters, demand from PHC companies has in fact been moderating," he said.
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