Unbelievable, they really practise this

[Big Toe]

Let's wake up and fact the facts.
As an employee, you are at the mercy of your hiring manager/the human resource folks/how well the company is doing.
They will totally decide your fate. You exist in the company in order for the company to make money.

And since nearly all MNCs here are headquartered in their country of origin and not Singapore, the top executives here are merely following orders from the top, i.e. budget allocation/headcount/etc etc (in other words, we are totally pathetic)

There is no point in crying foul, instead, take personal responsibility in your life and make it work for you.