They also have one that fits the iPhone 5 and it also cost S$48.
The pouch is made of 100% wool felt while the leather strap is made of 100% vegetable-tanned leather. The felt is treated with a special chemical to give itself anti-peeling properties and to make the sleeve water repellent.
There is a small pouch at the front to store your EZ-Link card, credit card and even your earphones.
Besides preventing your phone from dropping out of the pouch, the leather strap also doubles up as a pulling mechanism. By pulling the leather strap, it will pull your phone out by a little and that gives your hand enough grip on the phone to take it out.