Mr Spencer Tuppani Shamlal Tuppani, who was stabbed to death in front of a lunchtime crowd in Telok Ayer on Monday afternoon, was the chief executive of a shipping firm and had reportedly sunk everything he owned into it to save it during the 2008 financial crisis.
He told a magazine in 2014: "I even sold my watches for whatever I could get, just so that I could put it back into the company."
Registration records for the firm, TNS Ocean Lines, list a former director as Tan Nam Seng, who is understood to be the 38-year-old victim's father-in-law and the man who attacked him on Monday.
Tan was arrested in the case, which police have classified as murder.
Yesterday, neighbours said the family appeared to be happy and harmonious. Mr Tuppani lived with his wife and children, his mother and his father-in-law in Sennett Lane.