Not in Singapore, but I see a lot of people in my area doing this. I've always wondered how the unafraid part works when the bike is obviously over $5k.
Unfortunately wouldn't deter anyone where I live... addicts will flip that for $20 within an hour, and go get their drug fix, before the owner even has a chance to catch the thief
Even worse are the organized criminals driving around in SUVs looking for high end bicycles, a good few videos of them all over xitter sadly, brazen enough to follow people home and rob them in their driveway
The first paragraph is just about every city in Canada right now. Can't even mow our front lawn with the garage open because they run into your garage and snatch it before you can run after them. Although I haven't heard of quite the extremes of the second paragraph here yet.
Death penalty for drugs, chewing gum is illegal, porn is illegal, mandatory national service if you're a (male) citizen... If you keep looking it looks less and less like a good trade.