yeah, that will be self-sponsored. that is what most people around the world do too. but then, that statement about "will be a recruit of SQ" isn't really true. i know of two guys who got in with PPLs, but still got terminated due to their ATPL exams.
also, i guess whether you get in depends on the demands of the company, and the economic climate at that time. but of course, if you do have your own licence, you will stand a better chance than another candidate with zero experience.
and regarding SIA Cadet scheme, SIA only accepts sporean citizens, sporean PRs and malaysians. so, it may be a bit difficult for your case. but then again, no harm trying dude!