If this is not already a known secret that LTA will eventually goes for GPS but just that they still cannot solve some technical issues. (Understand system still on trial). LTA definitely is aware the current COE system is being manipulated by car dealers when they allow 3rd parties to bid, but the government need to support business and these business employ people (my guess only), so they are still looking for a win-win solution. Win-win means business still goes on while LTA continue to get high COE, haha
Personally, the only 'solution' is improvement to public transport system. Our traffic lights, bus lane, gentries, bus stops, bus routes, etc need a complete overhaul. You just can't leave them status quo and expect things to run. People sitting up there just warm their seats and talk only no actions. Make them take the public transport to understand. Our minister took the train for a couple days and gave up right?
And thanks to the greediness of the father of COE bidding system it's also quite difficult to change it into anything else. If the COE price is scraped and it's a pure queue system "first come, first served" (and after a defined limited amount of licenses people have to wait, no queue jumping) then all those who paid a fortune will start crying. If the COE is replaced by $20 CBD surcharge then those you paid already will cry even louder about double charging.
Unless the remaining COE for all vehicles is returned no new system can really pick up and get acceptance.
Since Singapore has no noticeable hills the Netherlands as bicycle country could be a good example.. Every car driver is also a bicycle rider, best way to create respect and understanding for each other.