I don't think Singapore's in a position to talk about fashion-sense yet, apart from a minority.
And in reference to the article, "Universities in China do not have such rules." Serious point to consider. But I think the people in China have a little bit more pride when it comes to dressing in school. The rules aren't very hard to abide. Slippers in school? Singlets? Shorts? If you had some sense of presentability, you wouldn't wear those things to an educational institution as an adult. As hair-dyeing goes, you would know better than to dye your hair platinum blonde when you're Asian.
The rules aren't about preventing "serious students who are here to study" from being "influenced". That's.... I think it's more about exercising professionalism as an adult. And of course, to bring Singapore up the style charts.