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- Oct 26, 2008
- Messages
- 5,208
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You will see only OLD cars on the roads just like N. Korea, Myanmar, and Cuba.......
<table width="100%" border="0" cellpadding="0" cellspacing="0"><tbody><tr class="msghead"><td><table border="0" cellpadding="0" cellspacing="0"><tbody><tr class="msghead" valign="top"><td class="msgF" width="1%" align="right" nowrap="nowrap"> </td><td class="msgFname" width="68%" nowrap="nowrap">makapa <nobr></nobr> </td><td class="msgDate" width="30%" align="right" nowrap="nowrap">5:10 pm </td></tr> <tr class="msghead"><td class="msgT" width="1%" align="right" height="20" nowrap="nowrap">To: </td><td class="msgTname" width="68%" nowrap="nowrap">ALL <nobr></nobr></td> <td class="msgNum" align="right" nowrap="nowrap"> (1 of 2) </td></tr></tbody></table></td></tr><tr><td rowspan="4" class="msgleft" width="1%"> </td><td class="wintiny" align="right" nowrap="nowrap">31605.1 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt"><table width="452" border="0" cellpadding="0" cellspacing="0"> <tbody> <tr> <td colspan="2" valign="top" width="452">Published April 13, 2010
</td></tr> <tr> <td colspan="2" valign="top" width="452">Mad rush in March to revalidate COEs
By SAMUEL EE
(SINGAPORE) More signs are emerging that the next COE quota will shrink even further. Figures from the Land Transport Authority show that there was a massive rush to revalidate certificates of entitlement last month.
<table class="picBoxL" width="100" align="left" cellspacing="2"> <tbody> <tr> <td>
</td></tr> <tr class="caption"> <td>
</td></tr></tbody></table>In March, before a new and sharply reduced quota was introduced for April, 10 times the number of car owners paid the Prevailing Quota Premium (PQP) to renew their COE for another 10 years.
For COE Category A cars (those under 1,600 cc), there were 151 revalidations - almost 11 times more than the number the previous month.
Cat B (for cars above 1,600 cc) received 189 revalidations - 10 times more than February's 19 transactions.
Cat C (for commercial vehicles) received 741 renewals or nearly 2.5 times more than a month earlier, although it has to be noted that February was an unusually low base for comparison because it was a short month made shorter by the Chinese New Year holiday.
The PQP for existing vehicles is a moving average of the quota premium over the last three months.
A vehicle owner who wants to renew his COE has to pay the PQP of the previous month. So if he is paying it in March, he has to use the February PQP.
With the PQP on the uptrend since December 2009 (see table), it is no surprise that car owners decided to pay up in March given that from April onwards, premiums were expected to shoot up since the supply of Cat A would be cut by 39 per cent and Cat B by 20 per cent.
On the other hand, Cat C had a 6 per cent increase but supply in this category is said to be outstripped by demand following last October's substantial 28 per cent reduction.
'The large number of PQP payments shows very low confidence,' said one motor distributor. 'Vehicle owners have no confidence that COE premiums will fall in the near future, so they decided to renew their existing COEs.'
But more importantly, the significant increase in COE revalidations points to only one thing - lower deregistrations. With less vehicles deregistered, there will also be less COEs to recycle in the next quota.
Future half-yearly quotas of COEs are now to be determined largely by the actual number of vehicles taken off the road in the preceding six-month period.
This means that the size of the August 2010 to January 2011 quota will be determined by the deregistrations taking place now from January to June 2010.
The total deregistration figure for Cat C and Cat D - for motorcycles - is also important for car buyers because 25 per cent of this is recycled into Cat E open category COEs, which are primarily used to register cars.
At $49,000, the current Cat E premium is already at an 11-year high. It leads the premiums in the other categories, which have also been surging strongly in the past two COE bidding exercises because of the supply contraction.
One car dealer said the March PQP data proves that the new COE recycling period is too short and will only aggravate the supply deficit.
'It looks like there will be big fluctuations under this new system,' he said.
</td></tr></tbody></table></td></tr> <tr><td> </td></tr> </tbody></table><table width="100%" border="0" cellpadding="0" cellspacing="0"><tbody><tr><td class="msgleft" width="1%"> </td><td class="msgopt" width="24%" nowrap="nowrap">
Options</td><td class="msgrde" width="50%" align="center" nowrap="nowrap"> 
Reply</td><td class="wintiny" width="25%" align="right" nowrap="nowrap"> </td></tr><tr><td class="msgbfrbot"> </td><td colspan="3"> </td></tr></tbody></table> <!--PostMsgHTML--> <script language="JavaScript"> <!-- if (adPosition == 1){ GA_googleFillSlot("DF_ROS_inline_BTF_1"); } //--> </script> <!--/PostMsgHTML--> <!--PreMsgHTML--> <!--/PreMsgHTML--> <table width="100%" border="0" cellpadding="0" cellspacing="0"><tbody><tr class="msghead"><td class="msgbfr1" width="1%"> </td><td> <table border="0" cellpadding="0" cellspacing="0"> <tbody><tr class="msghead" valign="top"> <td class="msgF" width="1%" align="right" nowrap="nowrap">From: </td><td class="msgFname" width="68%" nowrap="nowrap">newyorker88 <nobr></nobr> </td><td class="msgDate" width="30%" align="right" nowrap="nowrap">10:53 pm </td></tr> <tr class="msghead"><td class="msgT" width="1%" align="right" height="20" nowrap="nowrap">To: </td><td class="msgTname" width="68%" nowrap="nowrap">makapa <nobr></nobr> unread</td> <td class="msgNum" align="right" nowrap="nowrap"> (2 of 2) </td></tr></tbody></table></td></tr><tr><td rowspan="4" class="msgleft" width="1%"> </td><td class="wintiny" align="right" nowrap="nowrap">31605.2 in reply to 31605.1 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt">COE control by gov, they anytime want to rise it to 100K a piece of paper, they can do it also.</td></tr> <tr><td> </td></tr></tbody></table>
<input id="gwProxy" type="hidden"><!--Session data--><input onclick="jsCall();" id="jsProxy" type="hidden">
<table width="100%" border="0" cellpadding="0" cellspacing="0"><tbody><tr class="msghead"><td><table border="0" cellpadding="0" cellspacing="0"><tbody><tr class="msghead" valign="top"><td class="msgF" width="1%" align="right" nowrap="nowrap"> </td><td class="msgFname" width="68%" nowrap="nowrap">makapa <nobr></nobr> </td><td class="msgDate" width="30%" align="right" nowrap="nowrap">5:10 pm </td></tr> <tr class="msghead"><td class="msgT" width="1%" align="right" height="20" nowrap="nowrap">To: </td><td class="msgTname" width="68%" nowrap="nowrap">ALL <nobr></nobr></td> <td class="msgNum" align="right" nowrap="nowrap"> (1 of 2) </td></tr></tbody></table></td></tr><tr><td rowspan="4" class="msgleft" width="1%"> </td><td class="wintiny" align="right" nowrap="nowrap">31605.1 </td></tr><tr><td height="8">
</td></tr> <tr><td class="msgtxt"><table width="452" border="0" cellpadding="0" cellspacing="0"> <tbody> <tr> <td colspan="2" valign="top" width="452">Published April 13, 2010
</td></tr> <tr> <td colspan="2" valign="top" width="452">Mad rush in March to revalidate COEs
By SAMUEL EE
(SINGAPORE) More signs are emerging that the next COE quota will shrink even further. Figures from the Land Transport Authority show that there was a massive rush to revalidate certificates of entitlement last month.
<table class="picBoxL" width="100" align="left" cellspacing="2"> <tbody> <tr> <td>
</td></tr> <tr class="caption"> <td></td></tr></tbody></table>In March, before a new and sharply reduced quota was introduced for April, 10 times the number of car owners paid the Prevailing Quota Premium (PQP) to renew their COE for another 10 years.
For COE Category A cars (those under 1,600 cc), there were 151 revalidations - almost 11 times more than the number the previous month.
Cat B (for cars above 1,600 cc) received 189 revalidations - 10 times more than February's 19 transactions.
Cat C (for commercial vehicles) received 741 renewals or nearly 2.5 times more than a month earlier, although it has to be noted that February was an unusually low base for comparison because it was a short month made shorter by the Chinese New Year holiday.
The PQP for existing vehicles is a moving average of the quota premium over the last three months.
A vehicle owner who wants to renew his COE has to pay the PQP of the previous month. So if he is paying it in March, he has to use the February PQP.
With the PQP on the uptrend since December 2009 (see table), it is no surprise that car owners decided to pay up in March given that from April onwards, premiums were expected to shoot up since the supply of Cat A would be cut by 39 per cent and Cat B by 20 per cent.
On the other hand, Cat C had a 6 per cent increase but supply in this category is said to be outstripped by demand following last October's substantial 28 per cent reduction.
'The large number of PQP payments shows very low confidence,' said one motor distributor. 'Vehicle owners have no confidence that COE premiums will fall in the near future, so they decided to renew their existing COEs.'
But more importantly, the significant increase in COE revalidations points to only one thing - lower deregistrations. With less vehicles deregistered, there will also be less COEs to recycle in the next quota.
Future half-yearly quotas of COEs are now to be determined largely by the actual number of vehicles taken off the road in the preceding six-month period.
This means that the size of the August 2010 to January 2011 quota will be determined by the deregistrations taking place now from January to June 2010.
The total deregistration figure for Cat C and Cat D - for motorcycles - is also important for car buyers because 25 per cent of this is recycled into Cat E open category COEs, which are primarily used to register cars.
At $49,000, the current Cat E premium is already at an 11-year high. It leads the premiums in the other categories, which have also been surging strongly in the past two COE bidding exercises because of the supply contraction.
One car dealer said the March PQP data proves that the new COE recycling period is too short and will only aggravate the supply deficit.
'It looks like there will be big fluctuations under this new system,' he said.
</td></tr></tbody></table></td></tr> <tr><td> </td></tr> </tbody></table><table width="100%" border="0" cellpadding="0" cellspacing="0"><tbody><tr><td class="msgleft" width="1%"> </td><td class="msgopt" width="24%" nowrap="nowrap">
</td></tr> <tr><td class="msgtxt">COE control by gov, they anytime want to rise it to 100K a piece of paper, they can do it also.</td></tr> <tr><td> </td></tr></tbody></table>
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