About a decade ago, it cost about $70,000 for a Certificate of Entitlement (COE) to own a normal car. Now, it’s closer to $100,000. Why have COE prices kept going up? Is it really because Singaporeans are getting richer?

On this week's episode of TransportBT, host Derryn Wong explores one of Singapore's most hated acronyms: COE. Together with Say Kwee Neng, a long-time auto industry insider, they dive into the factors driving COE prices sky-high, from the rise of private-hire cars to the tax technicality that allows big car brands to bid aggressively for COEs.

Highlights:

01:55 So many private-hire cars

03:59 Private-hire cars vs. Taxis

06:49 Singapore government’s stance

11:24 National sales companies

12:48 How transfer pricing drive up COE prices

15:53 Problems with the COE system

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Send us your questions, thoughts, story ideas, and feedback to btpodcasts@sph.com.sg.

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Written and hosted by: Derryn Wong (derrynwong@sph.com.sg)

With Say Kwee Neng, managing partner, One Strategic Consulting

Edited by: Emily Liu & Claressa Monteiro

Produced by: Derryn Wong, Emily Liu & Chai Pei Chieh

A podcast by BT Podcasts, The Business Times, SPH Media

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