prashanna,
You are 100% correct. It doesn't make you feel any better, that's for sure. But, if one thinks about it, they didn't have to allow you to come here and work in the first place either. So, like all oldtimers like myself, alreadly know, you don't live high of'n the hog (live the hi-life) and spend like there's no tomorrow or you found the goose that laid the golden egg. Singapore's first priority has to be to it's citizens. They lost sight of that during the past 10 years or so and this election they paid the price for their oversight. Now they are correcting that problem.
Most expats realize that they are normally brought here to fill gaps, not to become permanent employees.