Bangladeshis are low-status migrant workers all over Asia and the Middle East, and deal with the poor working conditions that come with that. And they're often targets of racism, because racism isn't as taboo outside the western world. But the situation in the Emirates/Qatar/etc is completely different than Singapore. Unless you're taking the tack that "all capitalism is de facto slavery" or something like that, the term really only applies to the former, not to Singapore.