Open category COE premium rose to record $110,524, all categories higher

·Senior Editor
·1-min read
COE premiums for Category B and Open Category remained at above $100,000, with all COE categories closing higher on 6 July 2022.
Ayer Raja Expressway at sunset. (PHOTO: Getty Images)

SINGAPORE — The Certificate of Entitlement (COE) premiums for Category B and Open Category surged again and remained at above $100,000, with all COE categories closing higher at the bidding exercise on Wednesday (6 July).

The outcome of the tender came four weeks after COE premiums of Category B and Open Category rose to their highest in almost 30 years, closing above $100,000.

In the latest exercise, premiums for Category B cars, which are bigger and more powerful, rose 1.7 per cent to a record $107,800. Category B cars have engine capacity above 1,600cc or with horsepower above 130bhp, or are fully electric with maximum power output above 110kW. There were 695 bids received, 522 of which were successful while five from the quota were unused.

For the Open Category, which are typically used for large cars, premiums rose by 5.9 per cent to a record $110,524. There were 340 bids received, 191 of which were successful while four from the quota were unused.

Premiums for Category A cars, for cars with engine capacity up to 1,600cc and maximum power output up to 97kW, rose four per cent to $78,001 while premiums for motorcycles increased 5.7 per cent to $10,889.

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