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SINGAPORE - It is considered one of Asia's safest cities, but authorities in Singapore have a theft problem -- spurred by a surge in metals prices.
Thefts of drain covers, prayer urns, copper cables and other metal items doubled in Singapore last year, police said today.
While the overall crime rate in Singapore dropped 10 per cent last year, metal-related thefts jumped, with 1092 cases in 2006 compared with 526 cases in the previous year.
"Most of the stolen metal items are sold to Karung Guni men," said Tan Puay Kern, the senior assistant commissioner of police, referring to Singapore's rag-and-bone men. He added that thieves had made off with lightning conductors, street signs, and the housings for cable-television equipment.
Last year, Singapore was voted by Asian expatriates as the best place to live out of 257 locations worldwide because of its clean air, infrastructure and low crime rate, according to a survey by ECA International, a human resource consultancy for multinationals.
The price of metals such as copper has doubled in the last two years, amid speculative buying by investors who bet on tight supply and rising demand as emerging market economies increase spending on infrastructure.
- REUTERS
