SINGAPORE: Certificate of Entitlement (COE) premiums closed higher across the board on Wednesday (Jul 8) in the first bidding exercise since tenders were suspended because of COVID-19 restrictions.
For Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp, premiums closed at S$33,520, up from S$31,210 in the last exercise in March.
Premiums for larger and more powerful cars in Category B rose to S$35,889 from S$30,012.
Open
category COEs, which can be used for any vehicle type but end up being
used mainly for large cars, rose to S$34,989 from S$32,500.
COEs for commercial vehicles, which include goods vehicles and buses, rose to S$24,502 from S$22,002 in the previous bidding exercise.
Motorcycle premiums closed at S$7,702, up from S$4,489 in the last exercise.
Above is from CNA.
What shall I say? Is this a good thing or a bad thing? About 10 bidding sessions were held back, meaning 19,490 quota were accumulated and only to be released over the next 12 months. Sure the second car dealers would be happy. Really? Sure, those wanting to sell their cars would be happy. Really ah? Who do you think would be the happiest? More money to collect. This is for sure. Those that have to buy new cars and new motor cycles are crying. Who cares? You die your business.
When all the businesses are down, when people are losing jobs or fear of losing their jobs, the COE is the only thing that went up. Is this a sign of prosperity, or as someone might have said, the economy must be good or else people where got money to pay so much for a piece of paper? And some parties are happy. But silence on those people adversely affected by it. This is called telling half truth, or telling the alternative truth. Depends on which side you are on the fence, you can be happy or crying.
COE up ah, si beh ho ah. Everyone making money ah. You know who made the most money? And who hurt the most? The poor buggers that need a car or motorcycle for a living. Is this good or not? We are with you, for you and also makan you until your pocket empty.