COE prices rise in second round of February bidding

In the second COE bidding exercise for February, COE premiums for Cat A, B and E see an increase since the last tender.

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, went up by $1,029 (2.13 percent) to end the bidding tender at $49,430.

Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, went up by $2,412 (five percent) and ended at $50,621.

In Cat E, the open category, prices also rose by $2,444 (5.03 percent), with premiums closing at $51,000.

The increase in COE premiums across all categories could be caused by 'panic buying', when the Land Transport Authority announced last week that this week's COE tender would be delayed by two days. That might have triggered speculation that changes were afoot, which would push prices up. Sales of the all new BMW 5 Series could also be a contributing factor to the increase in Cat B premiums.