Based on your qualifications and experience, your salary is probably too low consideration the position (in the MOM's eyes). Passes are given based on both criteria (academic) and experience versus salary being offered.
I think the MOM thinks the MNC is low-balling you so they are only allowing an S pass which will even the score for the employer trying to lowball. On an S pass the employer will have to pay a levy of $330-$650/mo if you are on an S pass. If the employer would offer you $5350/mo then you might get the EP. as that is what it is going to cost the employer anyway on an S pass. There are no levies (yet) on EP holders.
Tell the employer you want %5300/mo and apply for an EP.
But also tell them to be sure to check the S pass box as well. e.g., if you don't, you will ONLY be considered for the EP, but if you do tick that box, you will be considered first for the EP but it they feel it's a no, they will then consider you for the S pass.
If you don't tick the box on the first application, and the EP is rejected, you cannot then apply for the S pass and you will be dead in the water as it were.
sms