Search the Community

http://www.channelnewsasia.com/stories/sin...1177383/1/.html SINGAPORE : Finance Minister Tharman Shanmugaratnam has said that not allowing banks to finance Certificate of Entitlement (COE) prices will not be effective in moderating the rise in premiums. Responding to a call by MP for Pasir Ris-Punggol GRC Gan Thiam Poh to set loan limits in order to moderate COE prices, Mr Tharman said people can turn to other borrowing avenues like car dealers and leasing companies to get around bank rules. He said other factors play a bigger role in influencing COE prices. "The more fundamental factors which impact on COE premiums include the economic outlook which shapes demand and the supply of COEs which is determined by the allowable vehicle growth. And by car owners' decisions on their own part to de-register, whether they decide to de-register their cars," said Mr Tharman. He added: "Car loans granted by financial institutions do not pose threats to financial stability. These loans form a very small proportion of total loans in the financial system, or even of total consumer loans. And the proportion of car loans that are non-performing loans is low, extremely low." - CNA/ms

1. I'm of the opinion that we don't need cab with big CC in Singapore. 2L engine is more than enough for them to roam around from one corner to another Singapore. 2. Bigger engine let the cab uncles have the tendency to chiong and most of them can't keep to their lane especially at cornering with their bigger cars. Regards,