COE has become one of the most disliked – and feared – three letters for Singaporeans, except possibly the State Treasury. It stands for Certificate of Entitle-ment, which Singaporeans must have if they want to buy a new car.
Demand for this precious piece of paper has been rising steadily for years to a level that is killing off the dream of many young Singaporeans to own a car.
In the latest bidding, the COE – each certificate is valid for only 10 years – recently hit S$91,000 (RM223,600) for a big car (1,600cc or bigger) – a sum that could buy a bungalow or a large farm in many Asian countries. Full story
