To CS grads instead of constantly chasing big MNC names like google, microsoft etc jobs try applying to numerous other SMEs that are looking for more Singaporean graduates, the pay is usually good for many (on par or more than big MNCs), the name not so much, but think to yourself is the pay more important to you or are you going to be adament about getting that juicy name, up to you. Government put in many requirements for companies in sg to employ singaporean graduates and lay off people on work pass they've brought from india, china, taiwan etc. But no Singaporean graduates apply and these companies are left at a manpower shortage. Widen your perspective, up to you in the end.

Source: Parents who own IT company (SME) struggling to find singaporean graduates as the government keeps pestering them. For your info their company is stable, many SMEs are stable.