Connect with us

Singapore

COE prices climb to new heights despite larger supply, Open Cat now S$131,000

Despite a 5.6% increase in supply, COE prices hit record highs in multiple categories this Wednesday with Open Category vehicles hitting an unprecedented S$131,000.

Published

on

In a surprising turn of events at the latest tender on Wednesday, certificate of entitlement (COE) prices for multiple categories surged, setting new records despite an increase in supply.

Category B COE, which represents entitlements for larger and more powerful vehicles, reached a significant high of $129,890. This is a notable increase from its previous peak of S$126,889 just two weeks prior.

Not to be outdone, the Open category COE, which can be utilized for any vehicle but predominantly goes to the larger, powerful car segment, soared to an unprecedented S$131,000, marking an increase from its last record of S$126,201.

On the other hand, COE prices for smaller, less potent vehicles (Cat A) experienced a marginal rise, finishing at S$100,000, up from the previous figure of S$99,499.

Similarly, the commercial vehicle COE witnessed a slight upward movement, reaching $82,801 from its earlier price of S$82,100.

However, not all categories saw an uptrend. The motorcycle premium was an exception to the prevailing trend as its price closed a tad lower at S$11,402, down from its previous S$11,501.

Interestingly, the recent quota period for August to October has shown a 5.6% growth in the number of COEs when compared to the preceding three-month duration.

This unexpected surge is attributed mainly to an extraordinary adjustment that was announced in May.

The Land Transport Authority, as part of this modification, proactively advanced some COEs from projected peak supply years. Consequently, an additional 1,025 COEs, exclusively for cars, were introduced to the current three-month quota.

The record-breaking COE prices, in the face of increased supply, have intrigued market watchers and will likely stimulate further discussions on demand and pricing dynamics in the months to come.

Continue Reading
Click to comment
Subscribe
Notify of
0 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments

Civil Society

Three women to contest charges over pro-Palestinian procession outside Istana

Three Singaporean women, charged under the Public Order Act for organizing a pro-Palestinian procession on 2 February, will contest their charges at trial, a court heard on 18 September. About 70 people participated in the February event, carrying watermelon-adorned umbrellas as a symbol of Palestinian resistance while delivering letters to then-Prime Minister Lee Hsien Loong.

Published

on

SINGAPORE: Three Singaporean women charged in connection with a pro-Palestinian procession to the Istana will contest their charges at trial, a court heard on Wednesday (18 September).

The defendants are Annamalai Kokila Parvathi, 35, an activist with the Transformative Justice Collective (TJC); Siti Amirah Mohamed Asrori, 29, a social media influencer; and Mossamad Sobikun Nahar, 25, a community worker.

They were charged in June under the Public Order Act for organizing an unpermitted procession on 2 February.

During the court hearing on Wednesday, the trio, through their lawyer, indicated their intention to contest the charges and claim trial.

Siti Amirah and Mossamad are accused of organizing the procession that occurred between 2pm and 3pm along the perimeter of the Istana, a restricted area.

Kokila is charged with abetting the conspiracy by collaborating with Siti, Mossamad, Alysha Mohamed Rahmat Shah, Anystasha Mohamed Rahmat Shah, and other unnamed individuals to organize the event.

According to a previous police statement, around 70 people gathered outside a mall on Orchard Road at about 2pm on 2 February before marching towards the Istana.

They carried umbrellas painted with watermelon images, symbolizing support for Palestinians amidst the ongoing Israel- Palestinian conflict.

The watermelon, reflecting the colors of the Palestinian flag, has become a symbol of solidarity.

Social media posts indicate that participants of the Letters for Palestine event walked from Plaza Singapura to the Istana to deliver letters addressed to then-Prime Minister Lee Hsien Loong.

The cases have been adjourned to October for pre-trial conferences.

If convicted under the Public Order Act, the women face a potential penalty of up to six months’ imprisonment, a fine of up to S$10,000, or both.

The police have reiterated their call for the public to avoid actions that could disrupt peace, public order, and social harmony in Singapore.

They advised that while strong feelings about the Israel-Hamas conflict are understandable, lawful means of expression, such as participating in organized forums, dialogues, and donation drives, are preferable to illegal protests.

Continue Reading

Singapore

COE prices surge across most categories, Open Category hits S$113,104

COE premiums rose on 18 September, with the Open Category hitting S$113,104, the highest since December 2023. Category A and B premiums also saw increases, while commercial vehicle COEs remained stable.

Published

on

Certificate of Entitlement (COE) premiums surged across most categories on 18 September, with the Open Category recording the steepest increase, reaching S$113,104.

This marks the highest price since December 2023, when the premium for an Open Category COE peaked at S$118,388.

The Category A COE, designated for smaller and less powerful cars as well as electric vehicles (EVs), rose by 2.1% to S$98,524 from S$96,490 at the previous tender on 4 September. This is the highest price recorded for Category A COEs in 2024.

Category B COEs, which apply to larger and more powerful cars and EVs, saw a 3.5% increase, with premiums rising to S$110,001 from the previous S$106,300.

Meanwhile, the Open Category, or Category E, which can be used to register any vehicle except motorcycles but is often applied to larger vehicles, rose by 5.8% to S$113,104, compared to S$106,901 from the earlier tender.

In contrast, the COE premium for commercial vehicles (Category C) remained largely unchanged at S$74,000, only S$1 below the figure from the previous exercise.

The premium for motorcycle COEs (Category D) saw a modest 1% increase, reaching S$9,900, up from S$9,801 in the last round.

Continue Reading

Trending