May COE Result: LTA collected $214 million

[makapaaa]

http://www.straitstimesreview.com/2015/05/06/may-coe-result-lta-collected-214-million/

[h=1]May COE Result: LTA collected $214 million[/h]admin / 1 hour ago May 6, 2015







In the latest Certificate of Entitlement (COE) bidding result for the month of May, the Singapore Government Land Transport Authority collected more than $214 million from successful bidders.

Category A (Cars up to 1600cc & 97kW 130bhp))	987	$68,589.00	2891	1438	6	$98,630,982.00
Category B (Cars above 1600cc or 97kW (130bhp))	728	$77,600.00	1631	934	0	$72,478,400.00
Category D (Motorcycles)	285	$6,512.00	462	321	13	$2,090,352.00
Category C (Goods vehicles and buses)	194	$50,098.00	545	370	3	$18,536,260.00
Category E (Open)	176	$78,004.00	445	290	2	$22,621,160.00
					Total Collected:	$214,357,154.00

[TD="width: 117"][/TD]
[TD="width: 86"] Quota [/TD]
[TD="width: 86"] Quota Premium [/TD]
[TD="width: 86"] Total Bids Received [/TD]
[TD="width: 86"] Number of Successful Bids [/TD]
[TD="width: 112"] Unused Quota carried forward [/TD]
[TD="width: 139"] Amount
Collected ($) [/TD]

[TD="colspan: 6"] NON-TRANSFERABLE CATEGORIES [/TD]

[TD="colspan: 6"] TRANSFERABLE CATEGORIES [/TD]

​

The COE system is a car population control system where the number of cars are set by the number of quota without regards for the price. This resulted in prices skyrocketing as everyone bid for the price.
There have been many complains about the COE system because it is blind to nationality (foreigners have equal access to private vehicles as citizens) and affordability to the general populace. It is believed the Singapore COE system is skewed towards the rich people as they can purchase multiple cars at the same COE prices. The COE system also disregard the background of the COE bidders, which is largely unfair to families, say with elderly or young children, who find it very inconvenient to commute on Singapore’s overcrowded public transport.
Screenshot from Onemotoring.com.sg

Another common complain about Singapore’s COE system is that it disregard common sense pricing. Take the Category D Motorcycles for example, a typical low cost motorcycle would cost around $3800 but the COE price is 50% more expensive than the price of the motorcycle itself. Another example, is that the low discrepancy between a Category A vehicle and a Category B vehicle. Category A vehicles are meant for luxurious vehicles yet the taxes for them is only 36% higher than Category B vehicles which are meant for the middle and low income. This pricing system is clearly divorced with reality and defeated the purpose of having COE prices.
The increase in COE prices correlates with the increase in foreigners in Singapore, yet the COE pricing system does not give citizens any discount. Does the Singapore Government look like they are putting Singaporeans first here?

May 6, 2015 in Featured. Tags: COE, LTA

 

[aerobwala]

Monies collected just in time for SEA Game expenditure.

 

[laksaboy]

"What's wrong with collecting more money?"

 

[Kuailan]

"What's wrong with collecting more money?"

LTA is one of the World Biggest Gangster than Russian Mafia, collect million from motorist for doing Nothing just a piece of Toilet shit paper, no manufacturing cost, no import cost, no labor cost!
No transparency!!

COE is under LTA control, not bid by motorist or car traders, every time when COE goes up or down they also have bloody stupid stories and excuses to tell!

Bend mark $65k and above.

Motorbike COE is ridiciously high $7K the actual bike for 150 cc is less than $1k fucking Gangster gahmen wants $7K! the poors sure to die, strangle hold by our Pay And Pay, the only way to reward
this greedy gahmen, is Erection day!! do your part kick the greedy gahmen OUT!

 

[bercampur]

Since most Singaporeans are not able to own a car now the authority should increase the quota for motorcycles.

 

[Leckmichamarsch]

Huat Ah........... n we wonder why CoL so high

 

[JohnTan]

The money collected from COEs goes back primarily to sinkies in the form of tax breaks, subsidized education, health care, security and other government services. Sinkies, especially non-car owners, benefit the most. So, what's all the whining about? You should be glad that PR foreigners are spending so much money in Singapore, instead of remitting the money back to their shitty hometowns.

 

[laksaboy]

LTA is one of the World Biggest Gangster than Russian Mafia, collect million from motorist for doing Nothing just a piece of Toilet shit paper, no manufacturing cost, no import cost, no labor cost!
No transparency!!

COE is under LTA control, not bid by motorist or car traders, every time when COE goes up or down they also have bloody stupid stories and excuses to tell!

Bend mark $65k and above.

Motorbike COE is ridiciously high $7K the actual bike for 150 cc is less than $1k fucking Gangster gahmen wants $7K! the poors sure to die, strangle hold by our Pay And Pay, the only way to reward
this greedy gahmen, is Erection day!! do your part kick the greedy gahmen OUT!

The whole premise of implementing the COE is to ease congestion on the roads by discouraging car ownership through artificially inflating the cost of owning a car.

Which is irrelevant now as there is the Population White Paper. More people means more vehicles on the roads, not just private vehicles but also delivery and transport vehicles etc.

It is nothing more than a profiteering racket. Two of the biggest cash cows for the PAP govt are HDB flats and COE revenue. Sinkie peasants eagerly go into debt to get these two things (a flat and a car) as they perceive them to be status symbols of achieving 'The Singapore Dream'.