Realised Singapore doesn't have enforced credit rating system like Moodys or S&P - probably led to the Hyflux nonsense do you think? Like less than 50% are rated !!?

You need to watch this

https://www.youtube.com/watch?v=mwdo17GT6sg

I don;t think its fair to say that the whole Hyflux saga was due to the fact that Singapore doesn't enforce credit rating system and like you mentioned, less than 50% are rated but yet the amount of defaults in Singapore is very low. While many may argue that the lack of credit rating systems compromise the due diligence process, many of the bond holders in Singapore are actually accredited investors who should have their due diligence processes in place.

I guess to not lose money in the future, perhaps you can invest in companies/bonds that are rated.