Singapore car ownership costs spike as CoE premiums climb past S$100,000
According to a report in Channel News Asia (CNA), Category A premiums increased to S$103,009, crossing S$100,000 for the first time since October.
Category B premiums reportedly went up to S$119,890, while Open category premiums rose to S$118,889, the highest since January.
Premiums for commercial vehicles dropped to S$62,590, and motorcycle premiums fell to S$8,709, according to the report.
A total of 4,896 bids were said to be submitted for 3,094 available CoEs.
According to CNA, the Land Transport Authority said the May to July quota increased by more than 6 per cent from the previous quarter and 21 per cent year-on-year.
In Singapore, the Certificate of Entitlement (CoE) is a permit that allows a person to own and use a vehicle for 10 years.
It was introduced to control the number of vehicles and manage traffic congestion, with prices determined through a competitive bidding process.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


New Straits Times
28 minutes ago
- New Straits Times
Anwar: Malaysia ready to be voice for developing nations on global stage
KUALA LUMPUR: Malaysia is ready to be a bridge and voice for the developing world on various global issues of common interest, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar said that key areas of focus include the reform of international financial institutions, fairer trade, climate justice, technology transfer, and capacity building. He added that Malaysia would maintain strong relations with all countries, remaining committed and active in spearheading various initiatives at the Asean level. The nation's active involvement with the Asia-Pacific Economic Cooperation (Apec), BRICS, and countries in the Global South would also be strengthened, reflecting Malaysia's determination to advocate for a more just world order. "We do not want to be mere local champions, excelling on our own turf but insignificant on the global stage," he said. "We must collectively restore Malaysia's image as a prosperous nation, rich in cultural uniqueness and firmly rooted in its local values and history." The Prime Minister also announced that Malaysia would leverage the opportunity of hosting the Sea Games in 2027 and several other international tournaments over the next five years. "The opportunity to host such prestigious sports events will be an important platform to foster unity among the people," he said.

Malay Mail
28 minutes ago
- Malay Mail
Govt strengthens national policies via Madani Economy, with bold reforms and inclusive growth under 13MP, says PM
KUALA LUMPUR, July 31 — The Madani government has boldly and decisively shaped the direction of national policies through the formulation of a comprehensive framework known as the Madani Economy that is based on sustainability, the people's well-being, and governance with integrity. Prime Minister Datuk Seri Anwar Ibrahim said that under this framework, the government has initiated structural economic reforms, including the New Industrial Master Plan (NIMP 2030), National Energy Transition Roadmap (NETR), National Semiconductor Strategy (NSS), and National TVET Policy 2030. In addition, the private sector has forged ahead along with the government — for example, the GEAR-uP programme, led by government-linked investment companies, has boosted domestic direct investments. 'The KL20 Action Plan was also introduced with the aspiration of making Kuala Lumpur one of the top 20 global startup ecosystems. Since its launch in April 2024, the capital's position in the 2025 Global Startup Ecosystem Report has risen to 68th place, with 4,464 registered startups. 'We are now on the right track to reach the target of 5,000 startups by the end of this year. At the same time, venture capital firms with average assets under management (AUM) reaching US$400 million (RM1.7 billion) have also shown interest in operating in Malaysia,' he said when tabling the 13MP in Parliament today. Anwar said that to further stimulate domestic economic activity, investments through strategic collaborations with the industry continue to be strengthened. This includes initiatives like the Johor–Singapore Special Economic Zone (JS-SEZ) and the Kulim Hi-Tech Park (KHTP), which have successfully attracted both foreign and domestic investments in high-tech sectors. He also noted that development efforts have been expanded to include the Kerian Integrated Green Industrial Park (KIGIP) and the Automotive High Tech Valley (AHTV) in Tanjung Malim, Perak, as well as strategic industrial parks in Sabah and Sarawak. Meanwhile, Anwar said the government is also undertaking legislative reform through the enactment or amendment of over 80 laws, including the ILTIZAM Act, Data Sharing Act, Police Act, and the Child Act. 'Enforcement agencies such as the Malaysian Anti-Corruption Commission (MACC), National Audit Department, and Malaysia Competition Commission (MyCC) have also been strengthened in an effort to combat corruption, leakages, and abuse of power in a more comprehensive and effective way,' he added. He also noted that fiscal management has been enhanced through the enactment of the Public Finance and Fiscal Responsibility Act as part of ongoing efforts to reduce the national deficit. In addition, the government is continuing its efforts to curb the rising cost of living through the better implementation of targeted subsidies, such as for diesel and electricity, to ensure that aid reaches the targeted groups without wastage. 'The Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) have also been increased. SARA recipients have been expanded from the initial 700,000 hardcore poor to 5.4 million recipients, including the B40 group. 'Last week, I also announced a one-off SARA cash aid of RM100 for all citizens aged 18 and above, involving an allocation of RM2 billion. As a result, the total allocation for STR and SARA assistance in 2025 will reach RM15 billion,' he said. Anwar also said the government has increased people's incomes through the minimum wage order, progressive wage policy and Public Service Remuneration System (SSPA). He said the Madani government has successfully raised the minimum wage twice — from RM1,200 to RM1,500, and then to RM1,700. Meanwhile, a living wage benchmark of RM3,100 per month has also been set for employees of government-linked companies (GLCs) and government-linked investment companies (GLICs). 'TVET graduates are also enjoying increasingly competitive salaries, with most earning above the RM1,700 minimum wage. A total of 95.6 per cent of TVET graduates have secured employment within six months of completing their training,' he said. On a separate matter, Anwar said that emphasis has also been given on basic infrastructure projects, including the upgrading of schools; dilapidated clinics; quarters for teachers, the armed forces and police; road maintenance; and flood mitigation projects. 'To date, 1,368 Royal Malaysia Police (PDRM) and 3,088 Malaysian Armed Forces (ATM) housing units have been completed, with an additional 8,501 units being under construction. 'At the same time, a total of 69,141 existing housing units for ATM and PDRM personnel have been repaired and upgraded,' he added. — Bernama


Free Malaysia Today
an hour ago
- Free Malaysia Today
Yen upbeat as BOJ turns less gloomy, dollar set for monthly gain
The yen was last about 0.5% higher at ¥148.78 per US dollar. (Reuters pic) TOKYO : The yen edged marginally higher today following the Bank of Japan's (BOJ) upward revision to its inflation forecasts and cautiously optimistic view on the economic outlook, even as it chose to stand pat on rates. At the conclusion of its two-day policy meeting, the BOJ kept short-term interest rates steady at 0.5% in a unanimous vote, although upgrading its inflation forecasts for all three years through fiscal 2027 and saying risks to the price outlook were 'roughly balanced'. The yen gained slightly after the decision as the central bank's latest assessment of the economy kept alive the possibility of a resumption in interest rate hikes this year. It was last about 0.5% higher at ¥148.78 per US dollar. 'There is definitely a clear justification for them to hike rates,' said Khoon Goh, head of Asia research at ANZ. 'Now, the fact that Japan has finally reached a deal with the US does remove some element of that uncertainty for themselves. 'So I think the question is whether the BOJ is now prepared to hike in October,' Goh said. Focus now turns to governor Kazuo Ueda's press conference later in the day for further clues on the timing of the BOJ's next rate hike. In the broader market, the dollar flirted with a two-month peak after Federal Reserve (Fed) chair Jerome Powell stuck to his patient approach on rates in a closely watched policy decision and offered little insight on when they could be lowered. The greenback was also on track for its first monthly gain for the year, bolstered by a hawkish Fed and US economic resilience, with uncertainty over tariffs beginning to ease given recent trade deals struck by Washington. Against a basket of currencies, the dollar dipped slightly to 99.67, but was not far from a two-month peak hit in the previous session. The dollar index was set for a monthly gain of about 3%. US President Donald Trump's chaotic tariffs and fears of the dollar's demise earlier this year had undermined the currency and given it the worst start to the year since the floating exchange rate period. Those worries have since abated, easing pressure on the dollar. 'We've seen the classic correlation still holding, in the sense that we've seen a hawkish Fed push up front-end yields and the US dollar, equities have struggled, and the credibility of the Fed has also been probably reinforced by the view that the Fed chair is still in command,' said Rodrigo Catril, senior currency strategist at National Australia Bank. 'The dollar is not just consolidating, but it's actually getting a little bit of upward momentum … The broader picture as well is that all these tariffs, there's at least an initial impression that the US is the one that's got the upper hand,' Catril said. The euro was last 0.3% higher at US$1.1441, nursing some losses after sliding to a seven-week low in the previous session. Still, it remained on track to lose nearly 3% for the month. Sterling languished near a 2-1/2-month low and last bought US$1.3272. It was similarly headed for a nearly 3.3% monthly decline. Traders have scaled back expectations for Fed cuts this year following Powell's comments, now pricing in about 36 basis points worth of easing by December. Markets have also been faced with a blitz of tariff announcements ahead of an Aug 1 deadline for countries to secure trade deals or face steep levies. South Korea became one of the latest nations to reach an agreement with the US, after Trump said yesterday that Washington will charge a 15% tariff on imports from the key Asian ally. The South Korean won strengthened on the news and last stood at 1,389.60 per dollar. Yesterday, Trump also slapped a 50% tariff on most Brazilian goods and said the US is still negotiating with India on trade. In other currencies, the Australian and New Zealand dollars recouped some of their losses after sliding more than 1% each in the previous session. The Aussie was up 0.5% to US$0.6468, while the kiwi advanced 0.54% to US$0.5926. Still, both currencies were headed for monthly losses of 1.7% and 2.8%, respectively. The onshore yuan struggled near an almost two-month low and last stood at 7.1918 per dollar. Data today showed China's manufacturing activity shrank for a fourth straight month in July, suggesting a surge in exports ahead of higher US tariffs has started to fade while domestic demand remained sluggish.