What's so talented about foreigners? I can only think of a couple of things, but the main one, would be the ability to be productive and a role model, and an asset to the company, some would also be sent for training purposes, and upgrading, others maybe sent, to be downgraded too, kept out of the way..Overseas postings have many motives, for sending out foreign talent, although it would be silly to ignore the local talent too, so i would expect, that local talent is only recruited to a certain level in the Companies structure until ailities and loyalty is spotted, over a considerable length of time.
It would be a silly mistake, to let talented locals elave any company, so its basically just a matter of time, before you see any visible reduction, and don't forget many talents are also cheaper than Singaporean, depending where one is recruiting from..So cheap labour still rules in many circumstances...although SMS may explain the difficulties of HR recruitment...it is far from straightforward and requires a talented person to recruit people with not only the right qualifications, but also the mental and psychological frame of mind for the job, and the ability to demonstrate social skills and leadership qualities, like communication, team working if needed and commonsene, with the ability to motivate, not an easy task to find all the qualities in one person!
Although I'm not saying foreign talent have all these qualities, they don't by a long way! It's just criteria from a business perspective is more complexed, than what you think!
Although I'm sure many forign talent may also let the side down to a certain extent, Self discipline and the ability to be independant and accountable, may also be a factor...Many locals probably don't meet the criteria and there is also the fact that MNC have doubts about handing over power to none citizens, not because of race, but because of industrial espionage and loyalties.
Even Singaporean solicitors seem to be running off with clients money these days! What would happen if they were running large multi-national companies.....it's worrying I guess, to hand over the steering wheel.
Although I do know many ethical businessmen here in Singapore, that could be trusted! It's the same in most Countries I would believe, not unique to Singapore.