In 2017, the COE was also above $8,000, and Mr. Heng decided that increasing the ARF for motorcycles would get the COE down so that smaller bikes which are used for delivery would be more affordable.
It did go down a little, and in 2021, the time where the economy is not doing so well, some people who have lost their jobs are turning to food delivery, and the high ARF and COE makes a…
