According to The Straits TimesHong’s name appeared in the Government Gazette’s list of bankrupt individuals, published on Sept. 26. Speaking to AsiaOne on Monday, he explained that his debts primarily arose from his Thai street food chain, The Original Boat Noodle, which he first launched in 2018.

“Ever since Covid-19 started, it has been very, very tough for us, up till our closure… I tried my best,” Hong said.

He opened the first outlet of the chain at Changi City Point, later expanding to locations including VivoCity, Suntec City, Bugis Junction, The Seletar Mall, and Northpoint City. In 2020, he introduced the Taiwanese bubble tea brand Machi Machi to Singapore, which reportedly ceased operations in early 2025.

Other ventures, including the cafe-cum-cloud kitchen Caf and the Indian banana leaf rice restaurant BananaBro, were launched during the pandemic but shut down in 2022. His hawker stall Oppa Kitchen, at Tam Chiak Kopitiam in Hougang, also closed after a year of operation.

Despite these setbacks, Hong expressed gratitude for the support of his family and close friends.

“I have family and close friends who stood by me and offered help. They are always there for me,” he said.

He added that the experience has provided him with “better wisdom and discernment” about who his true friends are.

“This has been a difficult and painful experience. But I feel that it’s right that I face it responsibly, and I will continue to choose to face it responsibly,” Hong said. “I also take this moment to reflect, move forward, reset, relearn and, most importantly, to rebuild everything to be stronger in the future. I don’t see this as the end.”

Hong, 44, first rose to fame in 2005 as the male runner-up on the local reality singing competition “Project SuperStar,” where he met his wife, Singaporean actress Candyce Toh, 45.

Recently, Hong toured with Singaporean Mandopop star JJ Lin on the “JJ20 World Tour,” performing in cities including Los Angeles, Toronto, London, and Paris.