I do wonder what the politics is that makes this a better deal than, say, Malaysia or Indonesia. Singapore itself is quite close to the equator, and Indonesia spans it.
It's futile to try to objectively analyze the dispute, sure, but it's both doable and reasonable to describe how one side feels when discussing their motivations.
It doesn't matter who is right and who is wrong (or even if anyone is right or wrong). What matters is that that experience disincentivises Singapore from signing contracts with Malaysia if they don't have to.