Madchinaman,
To put things in perspective, I personally know quite a few guys who got into SIA with foreign licences who either had to go thru the ab initio phase or direct entry. All of them are flying the big irons now. In recent times however, there may be a reluctance to hire locals with foreign licences due to the fact that a couple of them really didn't cut the mustard, either during basic training or learjet phase.
I really feel sorry for those who spent a fortune (even those with rich parents) for their flight training to come home without a job and have their dreams dashed. But like any job application, the company really doesn't owe anyone a living...you gotta sell yourself during the interview and not have the attitude that the job is a guarantee. This is also for those who are thinking of going abroad for their flight training. Go but don't have the misconception that SIA will hire you for sure once you get back. Most airlines in the world would rather hire a local over a foreigner for nationalistic, financial or whatever reasons but they don't just grab any tom, dick or harry who walks in the door.
For those who don't make it with SIA, I would advise that you get on with your lives and find alternate flying opportunities elsewhere if the desire to fly is still there. Who knows, it may just turn out to be more rewarding!
Good luck!
Check_6