Vibrant indeed! Singapore has one of the highest per capita incomes of any country in the world (way ahead of the United States, for instance) and its government-assisted capitalism seems to be immune from economic downturns that afflict other economies.
Tourism is a major industry. The entrepreneurs behind this venture represent some serious money. I bet they made Michelle a financial offer that she couldn't refuse. A world-famous (if not so famous in Singapore iitself) ethnic Chinese skating star with appeal to American travelers -- I would be very surprised if the deal did not include the right to Michelle's name and image for more general promotional use.
I believe Singapore is one of the Four Tigers, a group of successful Asian economies. (I believe the other three are Malaysia, Hong Kong, and Taiwan, though now that Hong Kong is part of China, I don't know how it counts.)
No, the Four Asian Tigers are Hong Kong, Taiwan, Singapore and South Korea. I've been to Singapore before & was shocked to learn that the gum-ban's actually upheld. The people take it as a serious commitment - a sacrifice necessary to keep their city clean and welcoming. That tidbit says a lot about Singapore. Probably couldn't happen in any other country.