I don't think 12k for a VP position, for someone with 12 years of experience in the field, albeit not totally related, is too much to ask for. The minimum I will be expecting is 10k, and that's already the lower spectrum of a VP role.

You can politely ask what is their budget for this role, and negotiate based on that. FWIW, local banks bonuses usually are the best in the Singapore market, around 3 months ++.