I've lost a $2600 road bike at my previous workplace having cable locked & park it at the basement's bicycle parking lot. Is an inside thief in the building since employees access that area (unfortunately no camera footage).
Bicycle thefts are on the rise. Of course the state controlled media states the 'tip of iceberg' crimes. Many cases are unreported. Now the govt comes out with an improvement to HDB (public housing) void decks bicycle parking lots rolled out in a small testing area.
People park cheap bikes at hdb void decks. Parking more expensive bike is literally begging to be stolen. Metal prices over long term are rising with insatiable demand from 2.5B people from India & China. Metal bicycles can be sold for scrap metal if not resold. Expect more thefts ahead especially with more people struggling to make a living after being replaced/displaced by generally cheaper foreign workers.
Looming commodity shortage & higher prices in the coming years due to huge demand primarily in emerging markets:
- India initiated a 50% hike in iron ore export duties to 30% to conserve supplies
- Indonesia implementing mineral ore export ban
- South Korean president visits Myanmar to discuss coop in energy & natural resources
My block in the East has the same change, the older similar wheel lock were replaced with the 1 in your photo.
ReplyDeleteTalking about waste, my estates letter boxes was re-tiled about 2 years back. After less than a year, the whole set of letter boxes was taken down and replaced, including the newly upgraded tiles. Real waste of tax payers money!