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. PHOTO: ST FILE
New: Gift this subscriber-only story to your friends and family

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.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

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