COE prices has dropped across the board with an exception for a marginal rise in the Open category
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Mr Raymond Tang who is the managing director of Yong Lee Seng Motor, stated that the slight drop in prices was due to a correction after prices surged in the last cycle.
But he expects COE prices to rise again in the next three months. This is due to an expected lower quota for the bidding period from August to October, and more people turning to cars as a safer transport option amid the Covid-19 pandemic.