SINGAPORE - Certificates of entitlement (COE) premiums finished higher at the latest tender Thursday, with the exception of Open category.
COE for cars up to 1,600cc and 130bhp closed at $63,880, up from $62,000 at the previous exercise three weeks ago. COE for cars above 1,600cc or 130bhp ended at $72,180, up from $71,990. Commercial vehicle COE shot up from $49,889 to close at a one-year high of $57,389. Motorcycle premium rose from $4,504 to reach a new high of $4,800.
The Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, bucked the trend by closing at $72,003, down from$74,801 previously.
Dealers said one reason for the more bullish bids was the longer gap between the last tender and this one. Usually, the gap is two weeks. But sometimes, the break between the twice-monthly exercise is three weeks. A longer gap allows dealers more time to collect orders. More orders in hand usually translate to more aggressive bids.