December open bidding exercise for COE kicks off

Total slots available is 1,641.

According to an LTA release, the details of the December 2012 second open bidding exercise for Certificates of Entitlement (COEs) are as follows:

Tender opens: Monday, 17 December 2012, 12 noon

Tender closes: Wednesday, 19 December 2012, 4.00 pm

Tender results: Wednesday, 19 December 2012 (Available on the www.onemotoring.com.sg website)

The total quota available for this tender is 1,641 for the following vehicle categories:

NON-TRANSFERABLE CATEGORIES:

Category A : Cars (1,600cc and below) 395

Category B : Cars (1,601cc and above) 360

Category D : Motorcycles 454

TRANSFERABLE CATEGORIES:

Category C : Goods Vehicles and Buses 182

Category E : Open Category 250

COEs for categories C and E are valid upon receipt until 31 March 2013 whilst COEs for categories A, B and D are valid until 30 June 2013.

Bid applications can be submitted through the Automated Teller Machines (ATMs) of DBS/POSB, the Internet Banking facility provided by Citibank and UOB, or via the OCBC phone banking services.

The bid deposit for COEs in Categories A, B, C and E is $10,000 per bid application while that for Category D is $200 per bid application.

During the bidding exercise, bidders can check on the status of their bids and revise their reserve price using these banks’ services, the LTA Open Bidding website, or by calling the LTA Open Bidding Phone System at telephone number: 6362 1465.

Members of the public can check the current COE price on the One.motoring website (https://www.onemotoring.com.sg) or on Teletext (Channel News Asia pages 521-523).

Although the COE Open Bidding System has been designed to handle large numbers of bids, transmission of bid data through the system could be delayed by external factors. Hence, members of the public are advised to bid early, as the system will only process bid submissions or reserve price revisions that reach the processing system before the closing time at 4.00 pm, 19 December 2012.

Bid data that is sent to the processing system at the last minute, but fails to reach the system before the closing time will not be processed.