Malaysia No. 2 in Asia-Pacific for cargo theft
By Yow Hong Chieh, The Malaysian Insider
KUALA LUMPUR, June 25 — Cargo theft in Malaysia is now the second highest in the Asia-Pacific by value and looks to increase as more cargo from Singapore, the world’s busiest port, is routed overland through the Malay peninsula, the New York Times has reported.
The US daily, quoting figures compiled by the Transported Asset Protection Association, said more than US$22.7 million (RM68.9 million) worth of goods was reported stolen from Malaysian ports, airports, warehouses and trucks from 2007 to 2010.
Only Hong Kong reported higher losses, but the refusal of Malaysian police to share data with the association and the reluctance of companies to report losses that could impact insurance premiums mean that the total value of goods stolen here is likely higher.
While transporting goods through Asia-Pacific countries is generally safer than other parts of the world like the Americas, Africa and Europe, “there’s little question that cargo theft and supply chain risk have increased throughout Asia”, the New York Times quoted FreightWatch International as saying.
“Malaysia, which lies along a number of important trading routes, is a particular concern,” the paper added.
“The country is increasingly becoming a key thoroughfare, as more companies ship their goods to and from neighbouring Singapore… which is connected to much of the rest of Southeast Asia by road through Malaysia.”
FreightWatch International singled out Malaysia and the Philippines as countries in Asia that report frequent occurrences of in-transit cargo hijackings with violence or the threat of violence.
Weapons used to hold up trucks include guns and knives.
