PSP proposes COE credit system instead of cash for bidding

[Volvobrick]

On 1/9/2025 at 3:30 PM, Wt_know said:

like that Grab fares will be matching london and new york taxi fare liao

so how?

ah gong inflation excluded transport ... so hear good things inflation only 2%

 

Give more CDC vouchers! 

[ER-3682]

On 1/9/2025 at 3:03 PM, Arogab said:

Where is your news? If yes, I think this one is big news leh

 

[Soya]

On 1/9/2025 at 3:31 PM, Volvobrick said:

Use CDC voucher to pay loh...

It doesn't make sense to have private hire ride with all the service to be cheaper than self drive in the first place. This is an abnormality compared to any other city in the world.

You and me competing w NASDAQ listed company to buy car oredi illogical bah....

But who are we to question scholar logic? 

 

 

Edited Thursday at 07:36 AM by Soya

[Tkseah]

Me think coe can copy HDB and property market.. provide COE grants to eligible buyers (eg. Buyer with kids etc.) to help offset the cost of 1st car, and imposing additional duties (aka ABSD) for buyers/families getting 2nd, 3rd cars.. 

Edited Thursday at 07:57 AM by Tkseah

[Arogab]

On 1/9/2025 at 2:35 PM, ER-3682 said:

 

Wah big news leh, but they say it happen in the past and now police case. Buy popcorn and sit back to see the results

[Invigorated]

On 1/9/2025 at 3:57 PM, Tkseah said:

Me think coe can copy HDB and property market.. provide COE grants to eligible buyers (eg. Buyer with kids etc.) to offset the cost, and imposing additional duties (aka ABSD) for buyers/families getting 2nd, 3rd cars.. 

Do you want a million dollar COE? 🤣

[Tkseah]

On 1/9/2025 at 3:58 PM, Invigorated said:

Do you want a million dollar COE? 🤣

Coe remains a bidding system mah, if buyers bid to million dollars then both pian lor.. 

[macrosszero]

Y’all looking at the wrong thing barking up the wrong tree

COE high or low is not as important as earning more money. If you earn a million bucks a year what the difference between 60k or 120k COE? Minor inconvenience only.

And clearly, there’s plenty of people here with money (or credit) to buy cars. All these tweaks aren’t going to significantly change the fact that cars are a luxury item not an entitlement. 

But that’s precisely why it is so enticing - possessing a car shows that you’ve made it. (But don’t ask them if they own it or the bank owns it!)

[Jman888]

demand more than supply, keep the supply low million $$ COE will come soon  

[Volvobrick]

On 1/9/2025 at 4:27 PM, macrosszero said:

Y’all looking at the wrong thing barking up the wrong tree

COE high or low is not as important as earning more money. If you earn a million bucks a year what the difference between 60k or 120k COE? Minor inconvenience only.

And clearly, there’s plenty of people here with money (or credit) to buy cars. All these tweaks aren’t going to significantly change the fact that cars are a luxury item not an entitlement. 

But that’s precisely why it is so enticing - possessing a car shows that you’ve made it. (But don’t ask them if they own it or the bank owns it!)

Just becos got money doesn't mean haooy/willing to pay more to the gahmen for something that costs 5 times less everywhere else in the world. Buay song mah.

Like you want to pay 25 bucks for cai png with the gahmen keeping 20 bucks becos you earn a lot？

Edited Thursday at 08:49 AM by Volvobrick

[mersaylee]

On 1/9/2025 at 2:26 PM, Soya said:

Scholars say cannot peg COE cat to OMV coz fluctuate every month. Makes pricing unstable 

But COE fluctuate every 2 weeks is ok.....

 

Not fluctuate...huge swing...mostly in one direction...up and up and...😅

[macrosszero]

On 1/9/2025 at 4:48 PM, Volvobrick said:

Just becos got money doesn't mean haooy/willing to pay more to the gahmen for something that costs 5 times less everywhere else in the world. Buay song mah.

Like you want to pay 25 bucks for cai png with the gahmen keeping 20 bucks becos you earn a lot？

Unpopular opinion but in an economy with relatively high GDP per capital, if everyone who can afford a car at its true prices can own one, the roads will be one massive parking lot of a traffic jam. Having a population quota ensures that our roads don’t become like that of Bangkok or Jakarta, because we don’t have the land for the cars to spill over.

It is means-based ownership make no mistake, there isn’t even a piece of paper to give you that satisfaction of having paid 120k. But don’t cry about it if you’ve been priced out.

[jcmm]

On 1/9/2025 at 1:13 PM, 13177 said:

Ya, they copied it from behind, but upfront say their proposal cannot make it?! Lol.

Plagiarism is not allow. Copy part of it and tweaking, putting your own words and resenting it your own original work is smart.

[Unfazed]

On 1/9/2025 at 3:24 PM, Volvobrick said:

Aiyah all of use know PHV operators drive up the COE premium.

I would just propose PHV bidders pay 5 times whatever they bid more since their mileage also 5 times average. No conversion from/to PHV. No COE rebat when they dereg early. ARF as per normal.

See if COE drop or not! The millionstar cannot say my proposal is complicated right? And they can collect more money from the PHV operators too! No need to thank me.

 

They won't thank you cos if they screw PHV is akin to screw themselves one de. If you think deeper. 😉

[Wind30]

 

Credit=rebate. We discussed this many months ago…

[Atonchia]

On 1/9/2025 at 9:30 AM, kobayashiGT said:

The Progress Singapore Party (PSP) has proposed a hybrid Certificate of Entitlement (COE) system that takes into account both economic and social factors in the allocation of private vehicles, which will only apply to categories A, B and D. NCMP Hazel Poa highlighted the key features in an adjournment motion in Parliament on Tuesday (Jan 7). She also proposed the creation of a separate COE category for private-hire cars.

Elaborating on the COE system that takes into account needs factors, she said bids should be placed using COE credits. These would be distributed by the Government to adult Singapore citizens and Permanent Residents each month. The number of COE credits received by each person will depend on factors such as nationality and the number of children they have.

Responding, Senior Minister of State for Transport Amy Khor noted that while a COE credits allocation framework may be well-intentioned, it is unlikely to be effective in practice. She pointed out that it is rather complicated, and Singapore’s system today has a transparent single price mechanism for every bidding exercise.

More details here: https://cna.asia/42bcJGG 

COE propose with credits system? 

Then terrace and semi-d can also use credit system? I get my extended family stay together? Can get better support? 😄 

[Atonchia]

On 1/9/2025 at 12:18 PM, 13177 said:

Ya, use backside to think also know whatever opp suggest/propose surely kena jialat jialat from gahment that cannot work, not practical, complicated etc la. This is the big difference between opp and gahment. No matter what opp said also view it as stupid and silly, whereas whatever gahment said is good and right. Lol.

I don't fully support PAP policy....

But some suggestions from opposition sounded quite socialist to me🤣....

[Benarsenal]

If they really meant for COE to be a "congestion control mechanism" they would have made it a strict quota rationing system rather than a bidding system. Give it out to those who need it the most instead of free for all.

We all know the real purpose of COE, and it is not what they publicly claim.