April 7's report ("COE prices edge up for cars but dip for others") said: "Industry observers said the unusually high percentage of unused Open COEs could be due to manipulation on the part of a bidder who wanted to keep the premium high.
"This could be because he had previously secured this COE at higher values, and the certificates might be fast expiring. Open COEs are valid for only three months, unlike the other car COEs, which are valid for six months."
Why is such a practice allowed? The certificate of entitlement (COE) system has been around for many years. Why is the Land Transport Authority not doing something about this?
Many ordinary Singaporeans need a car for their daily use, such as ferrying young children and elderly parents around. They should not be at the mercy of any machination to keep COE premiums high.
Lim Boon Kwong