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Singapore

COE premiums close mostly higher in latest bidding exercise

COE premiums close mostly higher in latest bidding exercise

File photo of cars and other vehicles in Singapore (Photo: Jeremy Long)

SINGAPORE: Certificate of Entitlement (COE) premiums closed mostly higher in the latest bidding exercise on Wednesday (Aug 19).  

Prices in all categories went up, except for motorcycles.

The biggest increase was in Category A, for cars 1,600cc and below with horsepower not exceeding 130bhp. Premiums closed at S$35,710, up from S$33,000 in the last exercise.

Premiums for larger and more powerful cars in Category B rose to S$38,802 from S$37,102.

Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, rose to S$38,110 from S$36,502.

COEs for commercial vehicles, which include goods vehicles and buses, rose to S$25,006 from S$24,100 in the previous bidding exercise.

Motorcycle premiums closed at S$7,432, down from S$7,701 in the last exercise.

A total of 5,973 bids were received, with a quota of 3,283 COEs available.

COE premiums had risen across the board in the earlier bidding exercise this month, after it was announced that there will be a smaller quota from August to October. 

A total of 18,626 COEs will be available for the August to October period, down from 19,055 COEs for the February to April period.

Source: CNA/gs

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