SO far this year, Royal Navy anti-smuggling operations have already netted almost 40 per cent of the total value of goods seized last year. And intelligence reports suggest that the number of operational tai feis - high-powered speedboats - has been slashed. The British Garrison's three Peacock-class patrol vessels and their speedboats seized contraband worth $11 million in the first three months and recovered more than half of all the money seized in 1992, according to figures released by HMS Tamar. A spokesman for the garrison said the improved performance was due to liaison between the navy and other members of the anti-smuggling task force led by the police. In the first 90 days of the year, the navy recovered goods worth $11.34 million and $434,000 in cash, compared to goods valued at $29.5 million and $803,300 cash during 1992. Already 17 speedboats have been captured, which is almost 40 per cent of last year's total. The navy arrested 49 suspected smugglers up until the end of March - 52 per cent of the 1992 total. One of the biggest single successes has been the seizure of 147 motorcycles in one raid. 1992 saw just four motorcycle seizures. On March 14, HMS Peacock intercepted two fishing boats off Lamma Island heading towards the mainland. Inside the vessels, the navy found the motorcycles, which were allegedly bought in Yau Ma Tei and were bound for China. Seizures of air conditioners and video recorders are also up on last year but the navy have been less successful in recovering stolen cars. One military source said: ''The reduction in stolen car seizures is probably due to the fact that the police action against this crime has been improved and less cars are finding their way on to speedboats.'' He added that the number of tai feis known to be operating regularly between Hongkong and the mainland had been reduced from about 80 two years ago to less than 20. ''There are probably about 17 still operating regularly at the moment, which is a tremendous improvement. It's clear that the anti-smuggling operations and the anti-smuggling task force are having a great effect.'' A garrison spokesman said: ''The news so far this year is encouraging and the navy and the Royal Air Force are working well with the police, the Customs and Excise Department and the Government Flying Service. ''We have an important part to play in the anti-smuggling task force with the other services involved.'' At least one of the navy's three vessels, HMS Plover, Peacock and Starling, are on patrol in Hongkong waters every day of the year.