Yep, local guys that are paid the same as people who are hired through AE and TT
a lot cheaper...
Not an inside source but it is most likely to do with the current demand for pilots, ab-initio cadets take longer to train than AE and TT so if there is not a very high current demand then AE and TT will be scaled back, but then with the A350's arriving etc. they will need pilots in the long term so ab-initio is carrying on. Also, Cathay had been under pressure from the immigration department because of their 'preference for expats' so that may also be a factor as ab-initio is only open for locals.
Again, not an insider but I think AE and TT should open sometime around 2015 as the A350s are (supposed to) arrive in 2016