I'm not Racist but fuck china.
...was Latin for "Assembled in Hong Kong."
My charter as the resident picker of non-WIS nits compels me to note that:
1. If you're aiming a fuck at China, more specifically Hong Kong in the south, you'll miss Singapore by about 1,600 miles.
2. The Republic of Singapore is a Southeast Asian city-state off the southern tip of the Malay Peninsula. It is a parliamentary republic independent since 1959. Said independence was gained from Great Britain rather than China for whatever that may be worth.
It shares a hemisphere with China. Apart from that it's interchangeable with China in roughly the same manner that Venezuela is indistinguishable from the U.S., or Japan is the same as North Korea. It's my understanding that the existing US/Singapore free trade agreement was put in place in no small part due to the fact that Singapore's intellectual property rights implementation is the polar opposite of mainland China's.
As far as my wild-assed guess of an opinion goes, I see no impediment to a Singaporean investor buying ETA movements and shipping to Germany for casing in a Fritter product by local labor. It's not like ETA doesn't share a border with Fritter - they could just toss a box on the local bus.
Dievas does not employ fever-dream MSRPs and retained value thus far looks pretty good. Their grandmother did not build pocket watches for Harold Macmillan to soften him up in a bid for independence. There are no widespread QC or CS horror stories. They use Superluminova for lume and sapphire for crystals on the Vortex - not Tritagibble or Flame Fusion or Krysterna or any other trademarked name based on the ancient Aramaic for "sounds better but works like crap". The case is titanium and their "micro blast" finish has not been reported as being as delicate as a rose petal.
That aside I'd still be POd if the German made marking was simply decoration. I'll be interested what you learn through further research.
But - if it's any small comfort, and it probably isn't: Singapore Ain't China.