From EP to S-pass, possible?

[bilg00n]

Dear All,

Please help, I need some advice.
I have been on Q1 EP for 3 years and 10 months until Dec 2006. I was laid off as they outsourced the marketing and dissolved the unit in Singapore. After I cancelled my EP, I applied for a new EP under a start-up company (with a total of 2 staff, one of them a recent PR converted from EP). My EP was rejected and no reasons were given, except the officer at MOM told me that seeing as I have been granted EP under my previous employer, the reason must lie with the new employer rather than my qualifications. And I was told that no appeal was possible for this case. I hold a Bachelor's degree from Australia, and my profession is in Marketing, notably B2B.

What I would like to know is, I am being offered a job with salary below the EP level, and seeing as I am now desperate, I am willing to accept.

1. Would the rejection of the previous EP application affect my new application for S-Pass (as this is the likely pass I would need)?
2. Has anybody here gone from EP to S-pass? Would it even work?

Thanks for reading and I will really appreciate your advice on this.

Bilg00n