More than five million US dollars' worth of watches have been stolen from a Singapore shop, the dealer said, in a rare crime of such magnitude in one of Asia's safest cities. "The theft involves timepieces at a net cost of about 7.9 million Singapore dollars (5.5 million US)," Cortina said in a statement late Monday to the Singapore Exchange.
The theft occurred at Cortina's outlet in the central Raffles City shopping mall after the close of business on Christmas Day and before the store opened on Friday.