LTA has rounded up its 3 month public consultation exercise on how to
tweak the current COE system to benefit the car owners and hopefully
lowering the COE premiums. From the feedback as reported in the Today
paper, it seems that the current system is still the best.
One suggestion by the public is the pay-as-you-bid system. This is shot
down as it would ‘not necessarily lead to lower COE premiums’, according
to NTU don Ng Yew Kwang. This must be the most convincing reason to
dismiss the pay-as-you-bid system. I can’t think of any better reason
than this.
Asst Professor Walter Theseira, also from NTU, said that if the price
did come down due to the pay-as-you-bid system, good that it is possible
to come down, she was worried that it would be the same people paying
for lower prices. Is this a good reason why pay-as-you-bid system is not
good? What is wrong with the same group of genuine buyers paying for
lower premiums? Isn’t the objective is to lower COE premiums? Does it
matter who were the buyers as long as they are legitimate?
Another suggestion of tying COE to OMV was met with disapproval by the
MD of Volkswagen, Steffen Schwarz. In his view, Singaporeans want the
latest technology and safety features and pegging to OMV is not
necessary the way to go.
Though some car buyers at the feedback session by LTA felt the
pay-as-you-bid system could work, it was reported that the academics
and industry experts felt that ‘the current COE bidding mechanism, where
all successful bidders pay the lowest, market clearing price, results
in the most efficient outcome.’
I can only say this is the biggest bull shit. But what can I say when
the experts said it is the best. So, would LTA listen to the experts or
the genuine buyers who want to change the system to bring down COE
premiums? There seems to be an agenda to retain the current system with
some minor cosmetic changes. Another exercise in shadow chasing perhaps.
How can they change the best COE bidding system that is serving so well
and generating so good revenue?
20 comments:
The government is like drug addict. After enjoying easy money from COE, how to let it go? ng
The consultation with experts is to bring down COE prices.....
Please believe me. As long as there is no HUGE increase in the number of COEs to meet demands, whatever changes to the present COE system is USELESS........
DONT WASTE YOUR TIME !!!
"I can only say this is the biggest bull shit."
RB
Hahahaha. Even if it is bullshit, don't forget they have the mandate even to bullshit!
Do you now realise how it really matters to have the mandate every 5 years?
And also how much it really matters to PAP when Low Thia Kiang said WP is not ready to be govt?
And if I were PAP, I also love the 40% who did not vote PAP but for making WP and not Chee Soon Juan's SDP the strongest opposition.
Singaporeans:
You want the best COE system in the world?
Let's call for a global tender and see what sorts of ideas come in.
You want to see what the world has to offer you?
Or
You want to hear (again) what our self-serving Singapore elites have to offer you?
I think it's better to directly find out for ourselves ... what the world has to offer.
Than to listen to a bunch of Singapore elites tell us what is good for us.
Do our Singapore elites look after your interest or their own self interest first?
LTA, if there is no better COE system after consultations, please don't change anything and cause additional stressssssssssss to us.
PLEASE DONT JUMP FROM FRYING PAN INTO THE FIRE!
Personally I am also for pay as you bid scheme. It should bring down the COE somewhat. This plus the other suggestions would have some impact on COE prices.
But nothing much can be done if 6.9m is going to be a reality. You can't beat the demand just like housing when the supply tap is closed and demand continues to soar.
I think, among other things, 6.9m is going to make PAP even stronger.
It's numbers first, and Sinkies second. Or third, or lower if need be.
@ 11.45 am
//PLEASE DONT JUMP FROM FRYING PAN INTO THE FIRE//
Ha ha ha.
Fire only meh?
"Hot enough meh"?
How about "from frying pan into volcanoes"?
Sounds "good"?
Don't "UNDERESTIMATE THE ABILITIES OF OUR S(IN)CHOLARS"!
Hi PSS, welcome to the blog. The final version of the new COE will be determined by what it is intended to do by the designer. Period.
PSS 2.44
Yes!...... can also.....but fire is bad enough......
In fact it is sad that after so many years we still talking about COE.......
The experts will only say things that will not offend the ruling party. They are not flawless and independent. It is ok to have COE but the coe revenue must be returned back to the public but where is the money? Either the coe or erp intakes are substantial enough to allow for free healthcare for everyone.
Government promised alot of things when they introduce new things like ERP & COE. They claim these systems are designed to control and manage traffic. After donkey years and profitted billions from us, they now tell us the systems are not effective. Who started it in the first place. They call themselves best in the world minds but if that is what they can do, forget it. All bull!
It is not just bullshit, it is a con scheme and treason at best. The intakes from coe, erp is public money but where is the money now?
No amount of engineering can reduce traffic congestion in Singapore.
No amount of articles from redbean can kick PAP out of parliament.
Two things that WORK! (Because Shanghai uses that COE system and their COE's are much much lower):
1. Pay what you bid, and
2. Dealers cannot bid, only vehicle purchasers can bid.
But it is clear the gov't is not at all interested in lowering the COE. They got addicted to the revenue
@ ANON: August 27, 2013 9:20 pm
"We are on your side"
PM Lee
Are you call PM Lee a liar?
The "TALL TREE" should put his job on the line for this grand trial again after what his ministry did earlier this year failed miserably to bring COE prices down despite creating "significant havoc" in the car market for most parties concerned. If he fail again, he should just own up and perhaps do it gentleman style by resigning on the spot this time! Cannot be this little red dot become a huge experimental lab for this so called self-proclaimed "TALL TREE" but all only empty hot air when it comes to delivery of result. Some accountabilities have to be in place when the stakes are so high and it cannot be an open ended indefinite trial and error "masak masak" no consequential responsibilities and bordering on some kind of untouchable beyond reproach mode of government. Enough is being said. Time to take real action and accountability and "kick some arses" if to be ever to be taken seriously again. Otherwise, it is likely an unstoppable loss of credibility and support all the way.
Agree it is the best scheme- that makes some people so rich can buy 50m dollars south france properties.
This is the "Renaming Marina Bay Contest" syndrome.
Waste time.
Waste money.
Waste effort.
And then finally, the best name for Marina Bay is still Marina Bay.
So after all the wayang.
The present COE system is still the best.
You forgot to ask, the best for who?
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