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Buying COE is Not Stock Trading

Certificate of Entitlement or COE should not be used for trading like the stock market.

COEs are intended to regulate the number of new cars allowed on the roads so as not to cause a gridlock on the roads.

However, this is not the case. Although it was reported that the motorcar showrooms at Leng Kee Rd were devoid of customers last week and yet the ‘open’ and ‘big’ car COE categories saw prices hitting the $100K mark!

So who is timing the market?

Since there are no car buyers, we can categorically say that there are NO individual bidders for the COEs.

By this simple analogy, it seems obvious that industry traders and players are commanding and distorting the market.

As the objective of the COE is to maintain a steady stream of new vehicles on the road, surely the Land Transport Authority (LTA) knows that allowing traders to bid COEs in bulk would eventually lead to trading and freewheeling.

With the release of 11,951 new COEs for May to July 2022, LTA should reign in this insanity of bulk bidding by traders. LTA should allow only individuals to bid for their COEs.

Industry players can help car buyers to bid for the COEs but the bidders should be name-specific.

Transfer of COEs are to be disallowed to avoid market distortion and validity of the certificates be reduced to 3 months in-line with the recently reduced validity for motorcycles.

LTA should carry out this review immediately to forestall further runaway COE prices.

 

Gilbert Tan

 

 

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READER COMMENTS BELOW

19 Responses to “Buying COE is Not Stock Trading”

  • xoxo:

    COE IS BULLCRAP$.
    It is another easy way for G to collect more money.
    When buyers bid for COE,they pay direct to LTA .
    When car owners want to scrap,they have to sell unused balance of COE n cannot claim remaining balance from LTA?

    Abolish COE.

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  • P Against People:

    “LTA should carry out this review immediately to forestall further runaway COE prices.”

    Sinkies are so so gullible. They always think that this gov is out to help them bring down prices. These must be PAPPY supporters.

    As sheep, you should remember what LKY said. More money. More money. If COE hit $1 million, many more servants will get lots more bonus.

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  • ah seng:

    The govt benefited massively from highly priced COE, surely they are behind all these price hikes.

    Just look at petrol, utility and even eggs….. you think their price most expensive in the world for nothing?

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  • Dr Tan Tai Wei:

    “Market forces”, no matter how unjust and un-right, as long as it does not subtract from “reserves”, etc., better add to them. Just like huge CEO and Ministerial pay!

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  • MarBowling:

    Besides the PONZI SCHEMES Of THINGY initiated by Lee Kayu for Public Housing, COE is another of his PONZI schemes of things wrt TO HIS FAMOUS QUOTE: “WHAT IS WRONG WITH COLLECTING MORE MONEY” BOTH THESE 2 SCHEMES WERE THOROUGHLY STUDIED, IMPLEMENTED AND PERFECTED BY HIS PROTEGE AND BLUEST-EYE BOY, EX WORLD CLASS MINISTER MARBOK TAN!

    Am not surprised that the CURRENT COE PRICES OF ALL THE CATEGORIES OF VEHICLES REMAIN SKY-HIGH! THEY ARE CONTROLLED, MANIPULATED BY SOME FOLKS (especially speculators, traders, businessmen, etc)who are STILL LOADED with huge amount of $$$$$$ earned from the HIKE of the frenzy speculation on the various cryptocurrency, especially BITCOIN, Even though the price of BITCOIN has since tanked! Under the CURRENT SCHEME Of THINGY, Car buyers have TOTALLY NO SAY although Individuals are ALLOWED TO BID ON THEIR OWN! JUST WATCH THE PRICES OF COE ONLY STARTING TO MOVE IN THE LAST HOUR OF THE CLOSING OF BIDDING! Would a SANE Individual(whose budget is ONLY $30k for a COE)who REALLY NEEDS A CAR FOR WORK AND FAMILY PURPOSE, BID AGAINST A CARTEL WITH MOTHER OF DEEPEST POCKETS!

    This is ONE of the REASONS, you can still witness BIG and FANCY BRAND NEW CARS Zooming around PAINTING THE TOWN RED WITH YOUNGSTERS BEHIND THE WHEEL! Btw, certain sector of the BOTH public and private housing market is STILL GOING VERY STRONG with some units breaking records HIGH!

    Abolish COE. Fat Big Arse Hope, unless the PAPIGS are VOTED OUT or their % REDUCED to 50.1% in the next GE, period!

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  • Stupid Singaporeans Vote PAP:

    If they impose COE to any other country, guaranteed they will be voted out immediately. Only stupid Singaporeans keep voting them. Sinkies asked for it. Don’t blame PAP.

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  • Trust only myself:

    ….another way for G to collect more money but this is already known yet no issue with unthinking Singaporeans so no need to complain…..they just wait for some vouchers and rebates and chicken wings coming to them will do…..

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  • Spineless Sinkie Syndrome:

    xoxo:
    COE IS BULLCRAP$.
    It is another easy way for G to collect more money.
    When buyers bid for COE,they pay direct to LTA .
    When car owners want to scrap,they have to sell unused balance of COE n cannot claim remaining balance from LTA?

    Abolish COE.

    Spot on. Not only that, when demand go to near 0, like during the early phase of Covid-19, they purposely suspend all bidding back in April-May 2020 period, so that the Prices CANNOT crash. LOL.

    However, when pent-up demand now comes back, they will happily say “Let market forces decide”.
    As usual, Double-speak and Double-Standards of PAPies, yes?/no? LOL.
    But Sinkie luv them to bits, so Sinkies can continue to “Pay And Pay” lor. LOL.

    Many Sinnkies still very “hao lian”, say “aiyah, cannot afford COE then don’t drive lor”. Msian people quietly LAUGH at Sinkies who say this, because they can OWN their BMWs/Mercs which is cheaper and can drive all the way until their wheels come off.

    However, PAPies will NEVER abolish COE lah.
    Reason is because too many Sinkies with SSS here. LOL.
    As long as there aare Sinkies willing to pay through nose to just RENT for 10 years only, “Pay And Pay” will continue. LOL.

    Sinkies will always be Sinkies. LOL.

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  • illiterate pap voters:

    ah seng:
    The govt benefited massively from highly priced COE, surely they are behind all these price hikes.

    Just look at petrol, utility and even eggs….. you think their price most expensive in the world for nothing?

    1, prices are high in Singapore because of pap inefficiency. pap needs 5 people to do the same job. that is why the same can of biscuits, the same 95 petrol, eggs from the same farm, all cost more in pap island than across the causeway.

    2, prices are high in Singapore because of pap ownself pay ownself S$m per annum system. look at ntuc the cooperative. its prices are even more expensive than the OMO shops in the HDB blocks. instead of regulating price hikes for the masses, ntuc the cooperative is the S$m arm of pap election failed candidates.

    3, prices are high in Singapore because pap does not have capable Singaporeans in its ranks. Look at the umbrage fatty. he sank NOL and then failed sph. He is still collecting his S$m per annum.

    4, which small city state (less than 730 sq km) has 5 mayors, besides the pm, dpm, sm, sms, ms, and S$m per annum perm secs? as everyone who has wasted time in NSF NSR knows, all the ffffing long chain all jiak liao bee. only the low down private in the army, and the low down daily rated worker in pap, are working. the rest all busy upgrading their Maserati Mercedes bungalow condo. How to be efficient, that is, how to be cost effective?

    5, look at CPF vs EPF across the causeway. beyond comparison. cotton sheep must clamor for Msian EPF folks to run their CPF so that, finally, they have enough to retire at 55, and not like now even at 62 still not enough in CPF to retire.

    Solution is simple. Want efficiency, vote out pap. Let a better group of Singaporeans form New Government. This is the solution.

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  • SINGAROAR:

    Singaporeans do not have representation in Parliament if their MPs are PAP. All we have is at town council level which should be under the HDB. As we have never been governed since GKS stepped down, we have been paying and paying the PAP enforcer who now falsely assumes all costs can be billed to the population. We have been willing ATMs for the PAP by continuously voting them in. We empower them to bully us in various ways. In this scheme of COE, how do those who need a vehicle for work purposes survive except to be in debt? Any $16,000/- monthly paid PAP MP raising this debate in Parliament ? Or are they going to stay silent because they are there just to support PAP motions?

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  • C’est la vie:

    ******
    StupidPoreans have been paying coe’s for such a long time, they’ve accepted that its part and parcel of the costs involved in buying a car !!!

    Similar to paying land costs when purchasing a lease on a public housing unit !!!

    It’s all part of the “accepted” costs involved, in living and driving in Sg.

    Courtesy of the pap, the pioneers of coe’s and land costs on leaseholds !!!
    ***
    ******

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  • SINGAROAR:

    @C’est la vie:

    The actual costs is never revealed to the Public. So the added costs becomes the accepted price. Those in HDB pay and pay from their retirement funds which are divided into OA, RA and MEDISAVE Account. These accounts can be depleted by raising the cost of so called Public Housing and Medical Fees. An accessible fund for the Enforcement Party with no protection for the citizen. This set up is unique to Singapore. There is no where in the First World that a govt. can access retirement funds. Is this method to deplete or grow retirement funds ?

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  • C’est la vie:

    ******
    @SINGAROAR ………….
    *
    As I’ve mentioned some years back that, … hdb’s represented this mercenary and merciless government’s ultimate “golden goose”, given that it exists to provide “affordable” public housing to its citizens, as is the intent with all governments.

    And then, … to be able to “tap” into one’s cpf, predicated for retirement purposes, … to facilitate the purchase of a lease of a public housing unit, … was a double triumph of epic proportions, … for the government !!!

    Add to that, being the main “landowner” on the island, plus, … the ability and monopoly to “create” a demand and pricing structure for its “public housing” units, … the citizenry is left with an “overpriced” and “overhyped” public housing unit on a lease and more importantly, … a wholly inadequate pension pot at thee end !!!

    Representing a double triumph for the government, and a, … double whammy for its citizens !!!
    ***
    ******

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  • SINGAROAR:

    @ C’est la vie:

    This is no more a Public Housing scheme but revenue and holding onto the wealth of the State by the PAP. So the vigorous continued activity of clearing land, bringing in new citizens and building never stops. All earnings are shared with the Enforcement. Disguised Communism or Feudalism ? Next the buildings will go underground.

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  • Harder Truths:

    COE is just another gimmick for the Regime to take your money for nothing. Literally this is daylight robbery. It entitles rich people to own more cars. If the Regime was serious about controlling cars they can place a limit on licenses. But that will not help their pockets or rich friends.

    A second hand car in Australia is worth less than A$10,000. In $G therefore even the average or below average with a family can own a car. But $tupid $heeple prefer to believe anything the Regime and $hit Times con them with.

    That is why $heeple are now third-class citizens working for fast-food delivery and heading to Mandai Crematorium in long queues.

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  • SINGAROAR:

    @Harder Truths:

    COE was implemented in 1990, the population was only 3 million. If the reason was to reduce vehicles, how does the PAP justify the increase in population to 5.5million in thirty two years. Increasing consumers, is increasing demand and raising costs to the 3million. The 1.3million households that cannot pay their utility bills is just the tip of the iceberg. More and more households will be going into debt as the Comcare is based on the size of your property. So a person in Tanglin Halt living in a 4room flat will receive more than a person living in a 5room flat in Sembawang even though the value of the Tanglin Halt flat is higher. As many netizens have written, stupidity has no cure but here in Singapore greed has to be added in. The suffering can only increase. What can the Singaporean actually afford? Cars, housing, education, food, water, electricity, healthcare ?

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  • Chua:

    COE bidding should reduce to one day since you see action only the last 15mins of the 3rd final day.
    You can only see $1 (across all categories) from day one to day three right up till final day at 3.45pm.

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  • MarBowling:

    The Noble and Holee idea of REQUIRING a COE is to CONTROL the VEHICULAR POPULATION of all the various categories of TRANSPORT in SinKapore. The blady LTA CONTROLS THE NUMBER OF QUOTAS IN EACH CATEGORY IN EACH BIDDING EXERCISE AS STIPULATED DONKEY MONTHS EARLIER! There is NO BLADY QUESTION of NON-TRANSPARENCY OF RIGGING THE NUMBER, PERIOD!

    It’s ALL ABOUT GREED BY THE COVERMENT IN THE CURRENT SCHEME OF THINGY SYSTEM OF AWARDING EACH AND EVERY COE TO ALL SUCCESSFUL APPLICANTS WHO PAYS THE SAME PRICE IN EACH CATEGORY. JUST FOLLOW ACCORDING TO THE WORDS OF WISDOM BY LEE KAYU: “WHAT’S WRONG WITH COLLECTING MORE MONEY“.

    IT SHOULD BE “YOU PAY WHAT YOU HAVE BIDDED”! THE DAMN TOTAL POPULATION OF VECHILES WILL NOT INCREASE BY ONE OR MORE AS LTA CONTROLS THE DAMN NUMBER, PERIOD! Say in Cat B for Big Car and High Horsepower, there is 2,500 quota. Say 2,499 Applicants have bidded between $1,000 and $30,000, will pay for the respective prices that they have successfully bidded. The 2,500th joker who has bidded $80,000 will have to pay for that RIDICULOUS PRICE! FAIR AND SQUARE FOR EVERY SUCCESSFUL APPLICANT! THE CURRENT FARKING SNEAKY SYSTEM ONLY FAVOUR THOSE WITH DEEP POCKETS! Those who REALLY NEED a Car or Goods Vehicle for a LIVING in order to put food on the table for family members, HAVE NO CHOICE BUT TO PAY THROUGH THEIR NOSE FOR A NEW OR A RESALE VEHICLE(PRICES INCREASE IN TANDEM WITH THE PRICES OF NEW CARS!)

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  • Outside job scope:

    Looks like LTA is dreaming of better days to come!

    Your job is clearly to keep the roads Uncluttered!

    However, you are now taking part I’d dicing n gambling
    ,

    If all town council do this, like Bukit panjang…..under the formerpappy……
    .

    Then everything can be diced including maintenance fund.

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