Rise in COE prices due to demand from individual local buyers: Transport Minister

The recent spike in Certificate of Entitlement (COE) prices is likely due to strong demand from local individual buyers, and not foreigners or car leasing companies, Transport Minister Chee Hong Tat told parliament on Tuesday (Nov 12). He added that having a separate COE category for private-hire cars is "not a straightforward exercise" as illustrated by the decrease in bids won by car leasing companies in the past few years. https://cna.asia/4hCbTbo Subscribe to our channel here: https://cna.asia/youtubesub Subscribe to our news service for must-read stories: Telegram - https://cna.asia/telegram WhatsApp - https://cna.asia/whatsapp Follow us: CNA: https://cna.asia CNA Lifestyle: http://www.cnalifestyle.com Facebook: https://www.facebook.com/channelnewsasia Instagram: https://www.instagram.com/channelnewsasia Twitter: https://www.twitter.com/channelnewsasia TikTok: https://www.tiktok.com/@channelnewsasia