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by AngMoG » Mon, 05 Aug 2013 9:44 am
It depends on your current status in Singapore as well. If you are SC or PR, you may well get away with this, from a government POV. If you need to get EP, and the company applies for you after your signing of the contract, then your EP has to be canceled before you start working, that may reflect negatively on future visa applications.
From the employer's side of view, you are liable for at least the length of your initial notice period as per contract. However, many employers choose to not pursue that, but understand it is entirely up to the employer to pursue you legally or not. If you are not in Singapore now, they most probably won't.
*edit* I also want to add that it is extremely unprofessional to sign a contract and then not take the job. If I were an employer on the receiving end of such behavior, I would blacklist you.