Jeffrey Siow’s COE defence sparks sarcastic call for ministers to give up cars to benefit more Singaporeans

[kensk76]

COE is always for the ones with deeper pockets. Don't dream about "cheap" COE even if PHV is not in the picture.

 

[spoon69]

in the end , PHV drivers suffer, the high cost of coe will pass down in rental. No EZ solution here, COE high price are here to stay, with 6.9 M population in 2030 vs 5M in 2020, same number of COEs with zero growth policy. Only solution here is to earn more money, then you wont have this problem

 

[bobo07]

in the end , PHV drivers suffer, the high cost of coe will pass down in rental.

lmao is the whole sg ppl suffer.... COE inflated on goods vehicles motorcycle buses transport etc .... anything that brings to your table your necessities are hyper inflated thanks to this inhuamn tax

 

[StoicGuy]

Back to the fundamentals.

Beside government, who benefitted from high COE?

My guess is 2nd hand car dealer who can sell in much higher price for those low coe used cars?

So it is good for them to keep the Coe car price high?

How about PHV rental company? Is it immediate bankrupt if coe price plunges? What will their bank do to them since the asset value is much lower?

So they die die has to keep it high?

How about the banks?

 

[OrLengJuz]

https://malaysia.news.yahoo.com/rep...yMbr0oYwvo0RBraVDG6RyOZcwYeuimEd-mVbeUnoJXyUv

it's coming, no wonder give us warning first.

 

[8zaoyu]

this new acting transport minister is trying too hard to please sinkies

Same as the GST increases, the only way is to ask his Boss, the Voucher Man to give higher rebates/vouchers who folks who really need the transport aka Via SC Baby Bonuses To-up and SC Medical Appt Transport Vouchers. More Vouchers cool tempers down - maybe in Aug National Day announcements, no?
Anyway, if the already built MRT lines or buses got no passengers due to unaffordability, jialat for the progress of fast paced nation!

 

[StoicGuy]

Dunno whether you all saw the ravi philemon TLDR post.

Turns out this jeffrey seow was LTA director during the 2010s when coe went haywire and it was under his watch that PHV coe was placed under private cars rather than taxis.

As minister, he will just protect his own past decisions.

Interesting.

ERP2.0 was started in 2018?

He is involved?

 

[SuperGreenHorn]

lmao is the whole sg ppl suffer.... COE inflated on goods vehicles motorcycle buses transport etc .... anything that brings to your table your necessities are hyper inflated thanks to this inhuamn tax

And yet, nobody knows why we are in this cost of living crisis. They still cannot understand the outcome is the cumulative effect of all the cost increases.

At the same time, non-car owners are rejoicing ... thinking they can be a free-rider, someone is footing the bills for them. Naivety knows no bound in Singapore.

 

[bobo07]

At the same time, non-car owners are rejoicing ... thinking they can be a free-rider, someone is footing the bills for them. Naivety knows no bound in Singapore.

see how long all these CDC vouchers will last them rejoicing lor...... ultimately hyper inflation is here to stay..... COE is one of the number one factor

 

[8zaoyu]

I'm not a supporter of the current measures, but I still want to point out the fallacy of your logic.

You are assuming people only travel to and fro work? Outside morning and evening time nobody need to travel?

In that case 100 coe given to car owners would make sense, but since people are always traveling throughout the day, the 100 coe given to phv becomes an efficient system where it provides 2000 trips. Under your logic, 2000 trips will need 1000 coe/cars.

During school non-holiday times, see so many car owners bringing their kids to and from schools - sometimes these people are the two-car per family type, road cluttering people !

 

[BohemianSG]

Interesting.

ERP2.0 was started in 2018?

He is involved?

I dunno... maybe you go read the ravi philemon post.... Its really too long. I didnt read the full thing. I only skim and saw that this siow eh was in charge of LTA in the 2010s.

 

[BohemianSG]

Back to the fundamentals.

Beside government, who benefitted from high COE?

My guess is 2nd hand car dealer who can sell in much higher price for those low coe used cars?

So it is good for them to keep the Coe car price high?

How about PHV rental company? Is it immediate bankrupt if coe price plunges? What will their bank do to them since the asset value is much lower?

So they die die has to keep it high?

How about the banks?

Car rental used to be a lousy bizness to be cause the car was a depreciating asset as it ages towards expiry of COE.

However, since the Grab coming in with Temasek as shareholder, rising COE prices meant that the inventory of Grab and car rental companies do not depreciate. Basically they rented the car to driver - make from rentals and platform fees without the asset depreciating. Very lucrative

In some cases, they can even sell the cars a few years later at a profit because the COE prices have gone up.

 

[spinning_quirK]

Whom did everybody vote for?

 

[StoicGuy]

Car rental used to be a lousy bizness to be cause the car was a depreciating asset as it ages towards expiry of COE.

However, since the Grab coming in with Temasek as shareholder, rising COE prices meant that the inventory of Grab and car rental companies do not depreciate. Basically they rented the car to driver - make from rentals and platform fees without the asset depreciating. Very lucrative

In some cases, they can even sell the cars a few years later at a profit because the COE prices have gone up.

90000 PHV cars = 9,000,000,000 Coe value and growing.

There are only 50,000 PHV driver and some of them not active.

There is already a gap of 4 billion dollars between PHV-Supply and Driver-Demand

Surely these companies will not let the coe slide else they will collapse immediately..

 

[Ghost_is_here]

Allow those private car renters to also drive into JB la.

 

[kodomo80]

Lolol this jeffrey siow like ownself ending his own career before it began

pls lor, he can talk and do anything he wants leh. Singapore where has minister's career ended by saying stupid things hahaha

 

[Carnage]

That's not 4 room.. probably 5 room.. old flat look bigger mainly because of the layout and the small toilet size..

Wrong. Those are 4A, I've seen a few just like that in Queenstown, CCK and hougang. They are not 5 room flats because there is no dedicated area for dining room.

My point being, flat sizes have been shrinking since the 90s and psf has been going up. That's undeniable and data shows that.

 

[Wu-Han Clan]

if COE exclude PHV bidders and still remain $100k... wht ppl going to say????

imo PHV shld hv separate COE category... average at $150k - $200k becoz their COE will be well used to fetch many passengers...

private owner cars can be arnd $100k $150k.... the roads might be less crowded like tt... thx me next time........

 

[standarture]

There is no magic or genius behind COE. Its just designed to give them money. U want to reduce no. of cars, just reduce the ballot size. Nothing to do with COE. Rich people can easily own more than one car.