SINGAPORE - Closing loopholes in the vehicle loan regime and imposing a levy on those who buy more than one car. These were among the suggestions raised by MPs during an hour-long debate in Parliament on Monday that
Ms Mariam Jaafar also filed a question asking whether the Monetary Authority of Singapore is considering car loan curbs, given record COE premiums. “From an auction theory perspective, actually the method we use is probably the most efficient,” he added.Private-hire car population remains stable; less than 3% of COEs secured went to foreigners
“The fact is the market has already been functioning, and the way we know that is when the price goes up, as it did in some of the earlier cycles when the COE price for motorcycles went up to $13,000 and, subsequently, it came down, the market corrected,” he said.