Why do high earners still feel not rich in Singapore?

Popular bakery chain Twelve Cupcakes suddenly shuttered on 29 Oct 2025, leaving 80 employees jobless overnight and the food workers’ union fuming. Elsewhere, SM Lee Hsien Loong’s remarks at a Chatham House dialogue, where he urged foreigners to not flaunt wealth, went viral online.

𝗡𝗼𝗺𝗶𝗻𝗮𝘁𝗲 𝗮 𝗦𝗲𝗻𝗶𝗼𝗿 𝗼𝘃𝗲𝗿 𝟲𝟬 𝗳𝗼𝗿 𝗪𝗼𝗿𝗱𝘀 𝗼𝗳 𝗪𝗶𝘀𝗱𝗼𝗺!
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𝗢𝗻𝗲 𝗦𝗵𝗶𝗼𝗸 𝗧𝗵𝗶𝗻𝗴

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(00:00) Words of Wisdom
(00:46) Intro
(08:27) Backlash for Twelve Cupcakes’ Abrupt Closure
(25:05) SM Lee Urges Immigrants Not To Flaunt Wealth
(51:07) One Shiok Comment
(54:22) One Shiok Thing

𝗖𝗼𝗺𝗺𝗲𝗻𝘁 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗲𝗽𝗶𝘀𝗼𝗱𝗲!
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𝗙𝗼𝗹𝗹𝗼𝘄 𝘂𝘀 𝗼𝗻 𝗼𝘂𝗿 𝘀𝗼𝗰𝗶𝗮𝗹𝘀
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𝗧𝗼𝗽𝗶𝗰𝘀 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗘𝗽𝗶𝘀𝗼𝗱𝗲:
Backlash for Twelve Cupcakes’ Abrupt Closure

• About 80 workers affected by Twelve Cupcakes’ closure; union says sudden notice 'unacceptable and unfair'
• Twelve Cupcakes shutters, in provisional liquidation
• ‘Unacceptable and irresponsible’: Union raps Twelve Cupcakes for abrupt closure, axing of 80 workers
• [2021] Twelve Cupcakes fined $119,500 over multiple counts of underpaying its employees
• [2021] Twelve Cupcakes to join food workers union

SM Lee Urges Immigrants Not To Flaunt Wealth

• 'S'porean Chinese are different from Chinese-Chinese': SM Lee on importance of a national identity in multiracial S'pore
• Transcript of PM Lee Hsien Loong at the Chatham House Dialogue (Oct 2025)
• SM Lee urges immigrants not to flaunt wealth or 'zoom' their Ferrari or Lotus at night to show they've arrived

𝘔𝘪𝘤𝘴 𝘢𝘯𝘥 𝘏𝘦𝘢𝘥𝘱𝘩𝘰𝘯𝘦𝘴 𝘧𝘳𝘰𝘮 @𝘴𝘩𝘶𝘳𝘦
𝘌𝘥𝘪𝘵𝘦𝘥 𝘢𝘯𝘥 𝘮𝘪𝘹𝘦𝘥 𝘣𝘺 𝘛𝘳𝘪𝘴𝘵𝘦𝘯 𝘠𝘦𝘢𝘬