Because of influx of foreign workers employers can have access to younger workers and naturally discriminate against older workers. Older workers may have higher number of health issues, and are physically weaker than young workers hence employers always want younger workers and discard older ones.
The way other countries value older workers and companies keep them js by not allowing such massive influx that distort the population profile and displace older workers.
In the end we see elderly workers doing work that nobody else wants like cleaning toilets and clearing garbage....collecting cardboard. We rarely see this in other countries but it is a common sight in Singapore. Older workers are told they should not retire.
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.