SINGAPORE: Certificate of Entitlement (COE) premiums closed mostly lower on Thursday (May 4), the first bidding exercise under the new quota for the quarter.

Premiums for Category A, which is for smaller cars, closed at S$101,001 (US$76,037), down from S$103,721.

 

Premiums for larger and more powerful cars in Category B fell to S$119,399 from S$120,889.

Open category COEs, which can be used for any vehicle type but end up being used mainly for large cars, also fell to S$124,002, from S$124,501.

COEs for commercial vehicles, which include goods vehicles and buses, rose to S$75,589 from S$75,334 in the previous bidding exercise.

Motorcycle premiums closed at S$5,002 - a sharp drop from the S$12,179 in the last exercise.

This is the first tender involving new measures for motorcycles, requiring bidders to put down a higher bid deposit of S$1,500, up from S$800 previously. The validity period for motorcycle temporary COEs has also been cut from three months to one month.

A total of 2,226 bids were received, with a quota of 1,621 COEs available.

 

The COE quota for May to July is 9,575, a 1.5 per cent overall increase from the previous quarter.