Actually the new version is by Cai Li Lian and Robin Goh (Wu Luo
Bin, a ex-MediaCorp artiste), not Hong Shao Xuan. I think HSX did
sing it in live performances before, but not recorded version. The
Eric Moo version is with Huang Hui Zhen, who was also a XinYao
pioneer now practising Chinese medicine/ acupuncture.
Hong Shao Xuan has many nice songs in the past. If interested, can
find those Liang Wen Fu's / Xinyao's compilation which has a lot of
HSX songs. Ni Shi Bu Shi Hai Zai is the title track for "Gui Dao",
a movie by Robin Goh and Cai Li Lian which also had that Xie Hou
version. His other nice songs include "Sui Yue De Ning Yi Zhang
Lian", "Dan Yi Zhi Liang Liang De Ge", "Ni De Dao Ying" (with Yan
Li Ming), etc. He was my fave Xinyao singer, together with Xu Nan
Sheng and Zheng Zhan Lun (ZZL not really in the Xinyao pack, but
around that time...).
Now Singaporean compositions have already lost a lot of the
Singapore flavour and becoming rather globalised. Even Liang Wen
Fu's compositions are going along the same route. (eg. Kit Chan "Ni
Ku") Good or bad, I guess it's up to individual.