As an ex expat with SIA for ten years my 'take' on this is a bit different.
I don't think they really want your average Westerner, accustomed to Western pay scales. I think they are planning to fill the vacancies with lads from Indonesia, India, Sri Lanka etc. for whom the pay will be acceptable.
SIA have access to all the current pilot markets and can gear their offering to the market they wish to attract. If the terms and conditions are not to your liking I don't think they want you!
Sorry, just the devil's advocate coming out. I do believe that SIA are treating their work force very badly and seriously need to get their act together if they don't want to lose the plot and their passengers completely.