Parliamentary question filed over unusual bidding patterns for motorbike COEs

The COE price for motorcycles had remained at $1 right up to the last three minutes before bidding closed last Wednesday, but surged to $5,514 when nearly 400 bids came in almost all at once in the final moments before tender closed at 4pm.
The COE price for motorcycles had remained at $1 right up to the last three minutes before bidding closed last Wednesday, but surged to $5,514 when nearly 400 bids came in almost all at once in the final moments before tender closed at 4pm.PHOTO: ST FILE

SINGAPORE - Unusual bidding patterns in the motorbike COE category have raised flags, prompting another parliamentary question on the possibility of market manipulation.

The Straits Times understands that Mr Sitoh Yih Pin, chairman of the Government Parliamentary Committee for Transport, has filed the question for the next Parliament sitting to reflect concerns raised by the public on the possible manipulation of motorbike COEs, which has kept premiums high. The date for the next sitting has yet to be fixed.

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