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Rising Costs Drive Singaporeans Away from Car OwnershipOwning a car in Singapore has long been associated with substantial financial commitments, but recent developments have further escalated these costs, making vehicle ownership increasingly prohibitive for many residents. A significant contributor to the rising expenses is the Certificate of Entitlement (COE), a mandatory permit required to own and operate a vehicle in Singapore. COE prices have surged dramatically; as of May 2024, premiums for smaller cars (Category A) reached S$92,700, while those for larger vehicles (Category B) climbed to S$105,689. These figures represent record highs, reflecting intensified competition for limited vehicle quotas. Beyond the COE, additional taxes such as the Additional Registration Fee (ARF) have been adjusted to further deter car ownership. The ARF is calculated as a percentage of the vehicle's Open Market Value (OMV), with rates escalating for higher-value cars. In February 2023, the government increased ARF rates for luxury vehicles, imposing a tax of up to 320% on cars with an OMV exceeding S$80,000. Operational costs have also risen. Fuel prices have been affected by global oil market fluctuations, leading to higher expenses at the pump. Additionally, Electronic Road Pricing (ERP) charges, which are levied to manage traffic congestion, have seen periodic adjustments, adding to the daily costs of driving. Parking fees, maintenance, and insurance premiums have similarly trended upwards, contributing to the overall financial burden of car ownership. These escalating costs have prompted a shift in consumer behaviour. Many Singaporeans are reconsidering the necessity of owning a personal vehicle, opting instead for alternative modes of transportation. Public transport systems, including buses and the Mass Rapid Transit (MRT), offer comprehensive coverage and are viewed as cost-effective alternatives. Additionally, the rise of ride-hailing services provides flexible and convenient options without the long-term financial commitments associated with car ownership. In this evolving landscape, companies like Ryde Group Limited stand to benefit. Established in 2014, Ryde is a Singapore-based technology company specialising in mobility and quick commerce solutions. Its services include on-demand and scheduled carpooling and ride-hailing options, connecting riders with a network of driver-partners. Additionally, Ryde offers real-time, on-demand, scheduled, and multi-stop parcel delivery services through its driver-partner app. In March 2024, Ryde became the first Singaporean ride-hailing startup to list on the New York Stock Exchange under the ticker symbol " RYDE ", raising US$12 million through its initial public offering. By providing cost-effective and convenient alternatives to car ownership, Ryde is well-positioned to cater to individuals seeking to navigate Singapore's transportation network without incurring substantial expenses.
AMEX:RYDELong
by HASHInvests200
Buy Trade for MOODENG: Leveraging Sustainable Energy TokensDescription: This trading idea focuses on MOODENG, a cryptocurrency that aims to disrupt the renewable energy sector by offering a decentralized platform to promote sustainable and clean energy solutions. MOODENG seeks to connect energy producers, consumers, and investors through blockchain technology, enabling transparent and efficient energy trading while incentivizing green initiatives. With climate change at the forefront of global concerns, MOODENG stands to benefit from increased attention and adoption in sustainable energy projects, presenting a compelling opportunity for investors interested in the environmental, social, and governance (ESG) space. However, it is critical to note that the cryptocurrency market is subject to rapid and unpredictable changes driven by regulatory shifts, technological advancements, and overall market sentiment. As such, investing in MOODENG or any other digital asset entails risks that require careful consideration and sound risk management strategies. Disclaimer: This trading idea is for educational purposes only and should not be interpreted as financial advice. Trading cryptocurrencies like MOODENG involves significant risks, including the potential loss of your entire investment. It is essential to conduct comprehensive research, understand your financial situation, and consult with a professional financial advisor before making any investment decisions. Past performance is not indicative of future results.
Long
by MoonTradingForecast
1
November 13 Bitcoin Bybit chart analysisHello It's a Bitcoinguide. If you have a "follower" You can receive comment notifications on real-time travel routes and major sections. If my analysis is helpful, Please would like one booster button at the bottom. Here is the Bitcoin 30-minute chart. The Nasdaq CPI indicator will be released at 10:30. Today, there was almost no movement and the patterns were all messed up, so it was really hard. The purple finger section at the top left, $89,558.5, is the same as the short position entry point from the analysis article on the 12th. *When the red finger moves, it is a one-way long position strategy. 1. $87,452.5 long position entry point / stop loss price when the green support line is broken 2. $92,407.5 long position 1st target -> Good 2nd -> Great 3rd target price You can see the blue finger section 1 that I marked at the top. To succeed in today's strategy, you must at least touch this section first, and if section 1 is not touched, it is the final long waiting in section 2. If you touch twice and the rebound is successful, There is a possibility of a whipsaw in the top section, so be careful with long positions and operate a short position separately. (Stop cut price is optional) The third section is 1+4 sections, but since it is the second touch, I am a little worried. If the rebound does not come out strongly in the third section, There may be a slight adjustment to the bottom section after tomorrow. Up to this point, please use my analysis articles only for reference and use, and I hope you operate safely with principle trading and stop cut prices. Thank you.
BYBIT:BTCUSD.PLong
by BitCoinGuide
DORA/USDT Analysis: Potential Bullish Setup with RetestDORA/USDT Analysis: Potential Bullish Setup with Retest 📈🚀 The 1-hour chart for DORA/USDT on OKX is showing a potential bullish structure following a sharp upward movement. The current price action suggests a retest scenario before a potential continuation to the upside. Key Levels and Setup: Current Price: Trading at 0.2000 USDT. Support Level: 0.1072 USDT – This level acts as a potential base for price support if the retest completes. Resistance Target: 0.2427 USDT – The next target level if the price successfully bounces from the support zone. Technical Outlook: The price has experienced a pullback after the initial rally and is testing the support level around 0.2000 USDT. If it maintains this level and gains buying volume, it may signal a bullish reversal for a move towards 0.2427 USDT. Monitoring for a strong bounce around this support zone could offer a clear entry signal. #DORAUSDT 🚀 #CryptoSetup 📈 #SupportAndResistance #CryptoTrading #BullishSetup
Long
by VIPROSE
1
PNUT/USDT Analysis: Triangle Breakout in PlayPNUT/USDT Analysis: Triangle Breakout in Play 📈🚀 The 1-hour chart for PNUT/USDT on Binance shows a symmetrical triangle formation, which often signals a continuation pattern. A breakout from this triangle could indicate the next direction for the price. Key Levels and Setup: Current Price: Trading around 2.1389 USDT, with a potential for upward movement. Target Level: 2.9844 USDT – A breakout to the upside from this triangle could lead to a 47.90% increase, reaching the target level if buying momentum kicks in. Stop Loss: 1.6679 USDT – A break below this level would invalidate the bullish setup and suggest a potential downside. Technical Outlook: If PNUT breaks out of the triangle pattern with high volume, it could signal a strong move toward the upper target. However, patience is needed until a decisive breakout confirms the trend direction. #PNUTUSDT 🚀 #CryptoBreakout 📈 #TechnicalAnalysis #TrianglePattern #CryptoMarket
Long
by VIPROSE
2