Shopping for new car? Hold on

Folk shopping for a car in recent months must be in despair. Prices of new cars have skyrocketed, rising by about $20,000 in just two months, before softening last month. The increases follow spikes in Certificate of Entitlement (COE) premiums, which came on the back of a drastic reduction in COE supply. The current quota is 40% smaller than last year's.

The bad news for car buyers does not stop there. The next quota, to be announced in August, will, in all likelihood, experience a further shrinkage. This is because motorists are likely to hold on to their cars due to the sharp rise in prices. Those who sell will probably see their cars end up in the secondhand market instead of being scrapped or exported.

Going by estimates based on deregistrations in the first three months of this year, the monthly quota for August could dip to 3900 from about 4250 now. That means COE premiums should continue to head upwards, leading to even fewer deregistrations in the second half of the year.

Right now, this downward spiral in supply and upward spiral in prices will seem quite frightening to anyone in the market for a new car. Will it ever end? Will the trend ever reverse? More pertinently, how much higher will COE premiums go?

COE premiums do not rise continuously. There will be corrections. We have seen two rounds since things began heating up in April's second tender and last month's first. The open category, which hit $49,000 during the first tender in April, has dropped to $39,000. But while there is intermittent respite, premiums will be on the uptrend. There are fears that premiums will reach $100,000, which happened in 1994.

However, the $100,000 premium, which was for cars above 2,000cc, was largely the work of speculators. When anti-speculative measures were introduced, premiums plunged overnight. If not $100,000, then how far can COE premiums climb today? The highest premium on record for a 1,600cc car was about $62,000 in 1997. The ceiling for a big-car COE is not much higher, at around $75,000, also reached in 1997.

These two categories of cars are the mainstay of most buyers, so it is safe to assume that their peak COE premiums are what the market is willing to bear in the best of circumstances. However, times have changed profoundly since the 1990s. Also, the oversupply of COEs in recent years gave rise to an "oversold" market. In the words of a dealership executive, "everyone who wanted a car has already bought one".

The car population here ballooned by 30% in the past five years, and 85% of passenger cars on the road are less than five years old. With lofty COE premiums, new-car sales have slowed to a crawl in recent months. They will start to pick up when consumers become accustomed to the new rates. The norm for COE premiums in the immediate future is likely to be $25,000-$30,000 for cars up to 1,600cc, and $30,000-$40,000 for cars with bigger engines. Motor traders reckon that the premiums could reach $50,000 by early next year and, perhaps, $60,000 by the later part of next year. These are long-shot projections, though, and should be taken with a pinch of salt.

Bear in mind that the COE supply crunch should reverse in about two to three years' time, when the cohort of cars between four and five years of age become too old to be sold on the secondary market here and have to be scrapped or exported. This cohort is sizeable, at about 200,000 units.

The bottom line: If you are not in a hurry to buy a new car, hold on till 2013. However, if you absolutely need one soon, you might just have to bite the bullet, or you could shop for a used car.

Choked drains caused massive flooding in Orchard

Singapore's national water agency, PUB, has said the flood in parts of Orchard Road on Wednesday was caused by choked drains underneath roads in the area.

With no typhoon hovering over the island city state, suspected that the rains were brought by the southwest monsoon. The two-hour downpour registered 100 mm of rain & the amount of rainfall is higher than the average and incidents like this happen rarely.

At a news conference on Thursday, PUB explained that thorough investigations done by its officers found that debris was found trapped inside the culvert of Stamford Canal. It said the heavy downpour caused debris to build up and get trapped in a drain near Delfi Orchard. The culvert of Stamford Canal diverts water from Nassim and Cuscaden Road into two sections of Stamford Canal, which runs along Orchard Road.

The heavy build-up of debris partially trapped in the culvert caused the rainwater to be diverted to only one of two canals running beneath Orchard Road. And this caused water in the canal to overflow into Orchard Road.

PUB said the drain's capacity is adequate as it has handled previous rains of similar intensity. It will be stepping up the frequency of maintenance inspections of critical closed drains. It will also increase its maintenance inspections to monthly checks. Currently, it inspects drains every three to six months.

PUB will also install more litter traps along Stamford Canal to prevent the build-up of debris, and more water-level sensors along Stamford Canal to enable closer monitoring of unusual peaks and dips in water levels.

How to Read Road Signs

Singapore's Most Expensive Carpark - MBS

It's home to Singapore's newest casino, convention centre and hotel. And as some unhappy drivers have pointed out, it's also home to Singapore's most expensive carpark.

Recently, Marina Bay Sands (MBS), which operates the 800 lot Sands Expo and Convention Centre carpark, has since revised its charges. The new fees are $8 for the first hour, and $2 for every hour after that. Parking is also capped at $28 for a 24 hour period.

Previously, parking was at $8 an hour from 7am to midnight. Overnight parking was charged at a flat fee of $8. This had some Singaporeans crying foul over its parking charges. But MBS has declined to comment on why they revised their fees and whether the fee cap existed before the revision.

At Resorts World Sentosa (RWS), from 7am to 7pm on weekdays, parking costs $6 for the first hour and $2 for every hour after that. Carpark charges are capped at $20 for every 24 hours parked there. Punters at the RWS casino can also choose to use their membership points accumulated to waive carpark fees. Hotel guests at RWS also get their carpark charges waived.

Punters at the MBS casino do not enjoy such an option. However, MBS hotel guests have their parking capped at $15. Drivers are advised to carpool or take public transport, as car park spaces were limited in their first phase of operations.

ERP rates to be increase by 20-100%

For those who contributed by paying high COEs, here's a big THANK YOU from LTA.

It will be costlier to use the roads as ERP (Electronic Road Pricing) rates for four gantries are set to increase from 20-100%.

From May 3 onwards, motorists have to pay $3 instead of $2.50 when passing the two gantries at ECP (Fort Road) and KPE slip road to ECP during 8.30-9.30am. This is an increase of 20%.

Motorists passing through the two ERP gantries at PIE Adam Road and Mount Pleasant will have to fork out $2 from 8-8.30am (for Adam Road) and 8.30-9am (for Mount Pleasant), a rise of 100% and 33% respectively.

However, rates at two gantries will be reduced.

Passing through the CTE gantry that is north of Braddell Road will be cheaper. The rate from 7.30-8am has been decreased from $2.50 to $2, a reduction of 20%.

The westbound PIE gantry before Eunos Link will be free-of-charge from 7-7.30am.

ERP rates are usually revised when the Land Transport Authority completes its quarterly review of traffic conditions on EPR-priced roads and expressways. The next ERP review will take place in May for the June school holidays.

Formula Drift Singapore 2010 - 25 Apr 2010

Had a great day at the Formula Drift last weekend all thanks to Lester & Andy. Although we went late, but just in time to catch the Round of 16 to Final 4 & Final 4 Showdown. After checking out the official photos, I feel that we really miss out alot of "Nice Stuff".

25 Apr 2010 - Formula Drift Singapore 2010

Drifting refers to a driving technique where the driver intentionally slides a car sideways through turns while still maintaining control over the direction of the vehicle. Drifting used to be an illegal street racing event, with racers using public roads as drifting locations, only forming into a professional-level contest about 10 years ago.

Powered by Nissan, Formula Drift originated from the US and was brought into the Singapore motorsports scene in 2008. Its has since attracted participants from around the region to as far as New Zealand. In official drifting tournaments, drivers are judged by angle, line taken, as well as speed.

For more drifting action, please visit their website @ http://www.formuladrift.com.sg.

Protest or Publicity Stunt?

A group of people dressed in white were spotted on the overhead bridge along CTE near St. Andrews Junior College, bearing a 'NO ERP' message on placards. Is this a Protest or Publicity Stunt?

If this is a protest I will be proud of these people. At last someone is highlighting the pain of ERP on our behalf. Or they are sending us a message that LTA is soon going to charge ERP on CTE on Sunday?

Looking at the picture again, I guess its just a Discovery Channel's publicity stunt which say on Sunday, there's no ERP, The World is Just Awesome! Oh Yes..! So now the worlds knows that we need to pay & pay to use the road except on Sunday. Haha..

SBS Bus 51 rams into bus stop at Eunos Link

The accident happened at about noon on today. According to victims, everything came and went in a flash.

The driver couldn't control his brakes and engine. The bus was speeding away and it hit three cars ahead. The passengers were screaming. And a few of them rushed forward to tell the bus driver to stop the bus, but he couldn't stop the bus. Passengers said the bus then travelled for another hundred metres before crashing into the ceiling of a bus stop at Eunos Link.

15 of the victims, including the driver, were sent to Changi General Hospital, while the other 6, who are children, were sent to KKH. SBS Transit has apologised for the incident. It has sent representatives to the hospitals to assist the injured and is helping police in their investigations.

Oh Yes!! COE prices hit fresh highs

Some car dealer calls it a tsunami, another describes it as the point of no return. Not sure if this is a good news, but for now, I think it is.

These best sum up sentiments, after COE prices hit fresh highs on last Wednesday in the first bidding tender since a reduction in COE supply kicked in. The biggest increase was in the big-car category, where the premium jumped S$9,412 to S$45,501. The COE for small cars meanwhile rose S$5,612 to S$34,001. The premiums for both categories hit fresh highs that were last seen some 8 to 10 years ago.

To put the figures in perspective, the COE for small cars was about S$5,000 about one year ago. Now, it is 7 times more. For big cars, the COE is now 9 times more than what it was a year ago. In the Open Category, where the COEs can be used for any vehicle type but end up usually for cars, the premium climbed S$6,999 to S$49,000 on Wednesday. Meanwhile, the COEs for commercial vehicles rose S$3,621 to S$36,511. For motorcycles, the new premium was S$21 higher at S$1,221.

Though dealers and buyers were braced for the prices to head north, they were still shocked and concerned. Now the world knows that a virtual paper is more expensive than a car in Singapore.

S.H.E to headline Circle Line's opening

Eleven new stations will be opened this weekend, adding to the five currently open at Marymount, Bishan, Lorong Chuan, Serangoon and Bartley. The region's biggest girl group S.H.E will lend their star power to the opening of the Circle Line's Stadium Station this Saturday. The 11 are Tai Seng, MacPherson, Paya Lebar, Dakota, Mountbatten, Stadium, Nicoll Highway, Promenade, Esplanade, Bras Basah and Dhoby Ghaut.

The trio of Selina, Hebe and Ella will make an appearance at Stadium Station, a short distance from the Singapore Indoor Stadium where they will hold their S.H.E is the One concert. SMRT has also invited Aunty Lucy, the persona made famous by Y.E.S.933 deejay Dennis Chew, to the Esplanade Station the following Saturday.

• Catch S.H.E at these events: SMRT Circle Line opening 17 Apr, 1pm, Stadium Station
• S.H.E is the One World Tour Concert - Singapore 2010 17 Apr, 8pm, Singapore Indoor Stadium
• S.H.E is the One Singapore "Thank You" Party 18 Apr, 5pm, Plaza Singapura

Parked beside a monster

My car is so small beside this monster..


- Posted from my iPhone

Singapore Air Show 2010

At Singapore Airshow 2010, visitors can look forward to an impressive array of jets, transport planes, helicopters and Unmanned Aerial Vehicles (UAVs) from as many as 20 exhibitors. Admire the graceful lines of the latest fighter jets, marvel at the luxurious comforts of private planes or, if you’re lucky, maybe even board a couple of these amazing flying machines at the Static Aircraft Display Area occupying 100,000sqm of outdoor space at Changi Exhibition Centre.

The Static Aircraft Display Area at Singapore Airshow 2010 will provide you with a photo opportunity that’s not to be missed!

The Singapore Airshow 2010 is a 6-day event, taking place from 2 to 7 February 2010. The first 4 days are exclusively for trade attendees while the final 2 weekend days are open to public. Tickets can be purchased through authorised SISTIC agents only or through the SISTIC website from 2 November 2009 onwards.

Ticket Price
Adult : S$20
Child (1 – 12 years old) : S$8
Family Package (2 adult tickets, 2 child tickets, 1 car park label) : S$100

Venue & Operating Hours
6 – 7 February 2010 Sat – Sun 9:30am – 5:00pm
Changi Exhibition Centre
9 Aviation Park Road
Singapore 498760

Flying Display Timings
February 2 @ 12:30pm – 2:00pm
February 3 - 5 @ 11:30am – 1:00pm
February 6 - 7 @ 11:30am – 1:00pm & 3:00pm – 3:30pm

Airshow Shuttle Timings (T2 or T3 Arrival Level Coach Stand)
From Changi Airport to Changi Exhibition Centre
First Bus @ 8:00am / Last Bus @ 3:00pm
From Changi Exhibition Centre to Changi Airport
First Bus @ 2:00pm / Last Bus @ 7:00pm

Be treated to an extra 30-minute aerobatic flying display taking place at this year’s Singapore Airshow over the public weekend on 6 and 7 February. This is in addition to the 60-minute aerial display.

See daredevil pilots pushing their machines to the limit, performing amazing aerobatic stunts that require extreme concentration and split-second timing. Be wowed by the sheer elegance of the spectacular planes and let the extreme flying machines take your breath away.

Making its last performance in Asia will be the F-111 strike aircraft which is operated by the Royal Australian Air Force (RAAF). The F-111 will be lighting up the skies performing the trail-blazing "Dump and Burn".

In addition, the A-10 Thunderbolt II will be making its first Asian show debut. The A-10 is operated by the United States Air Force and will be part of both the aerial performance. Reputed as the “Tank Killer”, it can attack tanks, armored vehicles and other ground targets. Its unique design allows for high maneuverability at low speeds and altitude.

Aviation enthusiasts, young and old, can also look forward to the first-ever aerobatic team showcasing the integrated air display segment by the Republic of Singapore Air Force F-16 Falcon fighter aircraft and AH-64 Apache attack helicopter in Southeast Asia.

Microsimulation of road traffic

A micro simulation of how our traffic develops traffic jams for nothing or due to some idiots who don't dare to merge / change lane confidently or some dumb drivers who recklessly merge into lanes causing other cars to jam brake and cause a major traffic trail-back.

http://www.traffic-simulation.de

Slide on the bars to decide the drivers characters / behavior and see what happens. This is how we see so many frustrating traffic jams in singapore. Not because of accident, but because of stupid driving habits.

New ERP gantries

Thoes who drive or cab to the Marina Sands integrated resort or Marina Bay Financial Centre will face a new set of electronic road-pricing gantries planned for the area.

The Land Transport Authority has announced that four new gantries will be set up in Marina Centre, north of the East Coast Parkway, as the area is part of an enlarged Central Business District. An existing gantry in Central Boulevard will be removed.

The four new gantries are in Marina Way (an exit road from the Ayer Rajah Expressway); Marina Station Road (near the new MRT station); and two on either direction of the new three-lane dual-carriageway Bay Bridge that links the new business and entertainment hub to Raffles Avenue.

The additions bring the number of ERP gantries in the CBD from 39 to 36.

LTA chief executive Yam Ah Mee said the new gantries are necessary because they form a cordon around the expanded CBD. Without them, motorists will use the new roads there to bypass congestion-priced roads in the city centre, he added.

The erection of the new gantries will be done in stages. The first one on the Bay Bridge leading out of Marina Centre will be up in April, while the others will up some time in the third quarter. The Marina Sands resort is expected to open from April, while the Marina Bay Financial Centre is due to open by the third quarter.

Is Woman really that bad?

Or its the driver just trying to cover up what he had did.. Haha.. (Picture taken from Stomp)

ERP rates to increase at three gantries

Electronic road pricing (ERP) rates are set to increase again - with rates going up by about 33 to 50 per cent for three gantries.

The two ERP gantries at ECP (Fort Road) and KPE slip road onto ECP will have their rates increased from $2 to $3, between 7.30am to 8am.

The rate at the ERP gantry for Thomson Road will go up as well. It will cost the motorist $2 instead of $1.50 - from 8am to 8.30am.

These revised rates will take effect from Feb 1. Rates for other gantries remain unchanged. The revisions come on the back of the Land Transport Authority (LTA)'s quarterly review of traffic conditions on ERP-priced roads and expressways.

The next review will take place in May.

Sentosa revises vehicle fees

Parking your car in Sentosa will cost dearly from 18 Jan but it will also be less expensive to take public transport. It is hoped that these adjustments will encourage visitors to take public transport and, if they were to drive, to car-pool.

The shuttle-bus service operating from Seah Im bus interchange to Sentosa will now cost $2, down from $3 previously. The revised fare will include the present $2 admission fee to the island.

The current gantry charge is $2 for every car, and another $2 for each passenger inside. This will be amended to a flat fee on a per-car basis. Also, the fee will vary depending on the time and day of the week. The flat-fee system will reduce processing time at the gantry as staff will not need to do manual head counts.

From Jan 18, the current per-entry parking rate of $3.21 that applies at all times will be replaced with a staggered and variable time-based system. A flat fee will be charged for the first four hours of parking, after which an hourly rate will apply. On weekends, the rate we will pay is $5 for the first four hours of parking, and $2 per hour thereafter.

Vampire Car get more Sunshine under new OPC scheme

From January 25, 2010, motorists will enjoy more perks with the launch of the revised Off-Peak Car (OPC) scheme. Drivers can look forward to more driving hours together with cash rebates for conversion of normal cars to the revised scheme. The changes will serve to support the Land Transport Authority's overall objective to better manage congestion during peak periods. I don't really think so. Nowadays, there are more OPC roaming the road as compared to it first launch. Where's the cut?

Under the new scheme, all newly registered OPCs and normal cars converted to the revised scheme, on or after January 25, will enjoy unrestricted usage on Saturdays and the eves of 5 public holidays - New Year, Lunar New Year, Hari Raya Puasa, Deepavali and Christmas.

The changes in usage restrictions will however be accompanied by corresponding adjustments to the tax concessions. The annual road tax discount will be reduced from $800 to $500 under the revised OPC scheme, and the minimum annual road tax will be $70, instead of the current $50. This translates to existing OPC owners having their annual road tax discounts reduced by between $20 and $300, should they opt for the revised OPC scheme. Existing users can make the conversion on, or after Jan 25, with a one-time $100 administrative fee and applicable road tax top-up

Vehicle owners who register a new car as an OPC under the revised OPC scheme will continue to enjoy an up-front tax rebate of up to $17,000. Those who choose to remain in the old OPC scheme may purchase an electronic day licence to enjoy the new driving perks on Saturdays and on the eve of the five public holidays.

Owners of normal cars and converted OPCs under the existing OPC scheme who opt into the revised OPC scheme will enjoy a cash rebate of up to $1,100 for every 6 months the car is registered as an OPC, until the car reaches 10 years old. The car must be kept as an OPC for at least 6 months after its conversion, except in cases of deregistration or when the OPC reaches the age of 10 years, to enjoy the cash rebate. Under the existing OPC scheme, this rebate of $2,200 per year is paid as a lump-sum only at the point when the car is deregistered and is still PARF-eligible.

Information on the cash rebate for conversion of a normal car to an OPC is available via www.onemotoring.com.sg from 25 January 2010, under LTA e-Services > Online Enquiries > OPC/WEC Conversion fees.

MediaCorp to discontinue TV Mobile

MediaCorp will discontinue TV Mobile, the free—to—air mobile digital television broadcast service, next year. No more TV Mobile!

A statement released last Tuesday said that MediaCorp has decided to terminate the service upon expiry of its current agreement with SBS Transit on January 1. The company said the discontinuation comes from a careful evaluation of the viability of the service, as resources required to operate and maintain TV Mobile are substantial.

When the service was launched in 2001, it was the only platform in Singapore that offered digital content to public commuters. MediaCorp said it will re—deploy all TV Mobile staff to other operations within the company.

This is another good reason to increase the bus fare. The removal charges & the lost in advertising revenue need to be made up for. With the economy improving, there is no better time to increase fare than tomorrow.

The kind of ride I want in my 50s

The gold-coloured convertible turns heads on impoverished Cambodia's roads - not least because of creator Nhean Phaloek's outlandish claim that it can be operated telepathically.

A snap with his fingers or just by thinking about opening the door will open the car's door immediately. Apart from the telepathically control, this car is able to reach a top speed of 100Km/h. The homemade car is named the Angkor 333-2010. Onlookers gasp as he demonstrates the trick, and with the fibre-glass vehicle having cost him 5,000 dollars and 19 months of labour he is in no mood to reveal the remote control system behind it.

But as with a handful of other Cambodians who make their own curious cars, he dreams the two-seater will help foster an automobile industry in the country, still poor after decades of conflict.

Kong Pharith, a 48-year-old former maths and physics teacher who has also produced his own car, says an auto industry is about to blossom in Cambodia. Their works will be part of a motivating force for the next generation to access new inventions and show the world that Cambodia has the ability to do what you think they cannot.