Fix COE system to preserve its original intent

SINGAPORE – When the Vehicle Quota System – or the COE system – was introduced in April 1990, it took just four years for car certificates of entitlement to reach a shocking all-time high of $110,500 in November 1994.

Premiums plunged immediately to a more palatable $65,000 the following month, ahead of measures to curb speculative bidding behaviour which exerted a huge social cost.

Please subscribe or log in to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.

Join ST’s Telegram channel here and get the latest breaking news delivered to you.

Source: Read Full Article