12 Jan '11, 5am

Motor traders suggest COE fine-tuning

SINGAPORE: The Motor Traders Association of Singapore (MTA) has written to Transport Minister Raymond Lim, offering some suggestions to fine-tune the Certificate of Entitlement (COE) system. In a release issued on Wednesday, the MTA suggested the removal of taxis from the Category A COE quota, and doing away with Category E (open category) COEs. It said COE premiums are now among the highest since the COE system was started in 1990. These high prices come on the back of sharp cuts in the COE quota over the last 12 months. The cuts coupled with the high COE premiums have had an adverse impact on both the motor industry and car buyers. MTA added that under current rules, the situation is expected to worsen this year. MTA's vice-president, Michael Wong, said: "The shrinkage in COE (supply) has been very dramatic. So for us, when we build our infrastructure, it's impossible fo...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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