PR rejected, seeking for advices to appeal

[Barnsley]

What was written on the rejection letter? Was it "... you can continue to reside in Singapore on your current valid pass..." OR "... you may apply again after XX months/year"

Mine was a rejection letter stating I can reside in Singapore during my current valid pass. It had nothing about applying later. I have descent account size in Singapore $3 Million + and Business owner. What is the difference between the 2 statements.

Quite simply, it means they are not interested in you becoming a PR here. You are welcome to stay and work on your current employment pass at the status quo but PR isn't going to happen. Therefore, if you are here to only make some money, you are good, but if you are looking to immigrate somewhere, then Singapore is not going to be that destination. The other letter is saying that you have a chance but you will have to wait out the currently acceptable waiting time before they will process your application further (again, this is still not a guarantee that you will be ultimately accepted for PR or for SC at some future date as well).

As far as a decent bank account, they could care less. It could be your parents money. There are plenty of business owners here who are 'scraping by' so that doesn't really hold any water either. This especially if the business is small, e.g., one or two man operation and/or not employing Singaporeans or a disproportionately small number of locals.

Thanks for the reply. Does this mean that I shouldn't try applying again anytime soon. The business I own is an Investment Management Company. I have private investments into local businesses that employees 6 Singaporeans/PRs. My recommendation came from powerful CEO or CFO of major financial corporations. I have been in this line of business for over 28 years. I feel that I am pretty skilled at my position. Does this even compromise when I renew my own EP that I own the business of?

What do you want PR for?