Singapore's MOM Intent on Closing Down My Business?

As I had fully expected, my appeal was rejected by MOM. I have yet to check to see if a second appeal is allowed.
Is MOM really forcing me to close down my company and leave the country? If so, I must wonder whatever right this ministry has to shut down a private and 100% Singaporean company. The ministry should be aware that refusing to renew my EP application would lead to a forced demise of my tiny company.
This is not only about the company. It is also about my own career and, yes, life. MOM doesn't seem to care about these. But what could I expect of a government ministry?
The rules have been tightened further and further. I understand their intention is to protect jobs/wages of the citizens. But am I stealing anybody's job? Then, I ask how many Singaporeans are working as a translator/interpreter, especially of the Japanese language. How many Singaporean are wishing to be one, in the first place? If any, how many of them are capable of handling the language?
I would be happy if I could find a Singaporean who could manage the work as good as or better than I do. But where is the person?
Rather, I believe I am helping the country create job opportunities for them as I've translated financial documents of Japanese companies required to set up local entities, which would inevitably hire local staff. And some of my clients come to me because my company is located in this country. Closing down my business here also means a breach of trust for my clients, who have consistently chosen me as their preferred translator/interpreter.
Then, this may be really the definite end of so many things. Serious consequences could ensue
I think small business should be encouraged. Apparently, MOM has a different view..