LTA Announces Details for First Open Bidding Exercise for COE in August and Curb Taxi Fleet
By Donavan Lim
The Land Transport Authority (LTA) today, announced details for the first open bidding exercise for Certificates of Entitlement (COEs) in August 2012.
There will be a total of 421 COEs for Category A cars (1,600cc and below), 350 COEs for Category B (1,601cc and above), 183 for Category C (Goods Vehicles and Buses), 456 for Category D (Motorcycles) and 260 COEs will be available for Category E (Open Category)
The tender opens on Monday, 6 August at noon, and closes on Wednesday, August 8 at 4pm
Separately, LTA stated that the taxi fleet growth rate will be kept to 2 per cent annually from August 2012 to December 2013.
The 2 per cent rate will be applied on individual taxi operators based on their respective fleet sizes.
This rate is pegged to the historical taxi ridership growth rate of 1.9 per cent per year from 2003 to 2011.
Further as announced last week, taxi operators will have to meet new taxi availability (TA) standards from January 2013 before being allowed to expand their fleet.
LTA is currently working out the details of the TA standards and the TA-linked growth rates in consultation with the taxi industry and the National Taxi Association.
As some taxi operators have obtained Certificates of Entitlement (COEs) in earlier bidding exercises, they will be allowed to use all of these COEs to register taxis within their validity periods.
Flexibility will be exercised by LTA on a case-by-case basis for situations that merit consideration.