Cancel EP IPA as getting an counter offer from existing company

[SNP2019]

Hi friends, I am new to this forum and looking for inputs regarding cancellation of my EP IPA.

My situation: I am not based in Singapore and working for Company A. I got an offer and subsequently received EP IPA from Company B. But, when I asked for resignation from Company A, they provided a counter offer and created a role for me in Singapore. I have been working with Company A for last 5 years and happy with the team and the new role being offered in Singapore. So, now, I do not want to proceed with the EP IPA offered by Company B (& want them to cancel my IPA Letter). I have not joined Company B yet, and still outside Singapore but need to act fast to make a decision.

How should I handle the situation now? Can Company B provide negative feedback to MoM regarding my candidature, which may risk my chances of getting a fresh IPA from Company A? Is it mandatory to explain the counter offer situation to Company B, or it can be under the pretext of Personal reasons? What are the repercussions if Company B does not agree to cancel my EP IPA?

[smoulder]

Without getting into how mom will view this and what your chances are for your current employer to get an approval from mom... There are others who will know that better.

However..... General advice....

As it is back in your country, the usual advice is to not accept counter offers. There are many reasons I can think of why not, but 2 reasons I'll highlight here.

1. You are burning bridges with the company you are turning down. This is a small world and Singapore is an even smaller country. At some point, it's quite likely that you will bump into the same personnel involved in your hiring process, either at the same company or somewhere else.

2. The way that you are viewed within your current company changes slightly after you offer your resignation and then retract when they counter offer you. This point may be debatable for some, but this is my belief anyway.