Of course Hong Kong is now different, but that's not because the government changed its policies, but there is a different government in power.

Singapore had the benefit of a trade port, but it kept importance as such and expanded into becoming a important financial center as well as punching well over its weight in terms of innovation. They have invested in education and provide a stable environment for business.

Still, Hong Kong being different now is because the powerful (China) changed the government to favor themselves. This is actually an example of government falling to powerful interests in short order.

Singapore has as bad or worse of income inequality as the US, and I wouldn't say the US is well governed. https://en.wikipedia.org/wiki/List_of_countries_by_income_eq...

Still, I don't want to take equality as a primary metric since I think inequality to some degree is natural.

Singapore is however a infamously repressive regime as mentioned by ardy42

Also, IIRC, they both benefited from being trade gateways into the PRC economy, especially when it was more closed than it is now.