SATS must really be screwing MH on the rates if it's cheaper to re-open a dedicated MH lounge in Singapore versus contracting to SATS!
With 5-6 x 737 flights a day, certainly MH dedicated lounge is nice to have but hardly easy to support, I'd think, given the number of daily pax with access rights. And SIN has many decent lounges so MH product won't likely be any better.