The keywords are "non-scholars" and "local grads". You gotta realise the number of scholarship holders has increased exponentially through the last 10-15 years, both local and overseas (more prestigious) . Folks who are now in their 40s and 50s did not have to compete with the many overseas scholars. Practically all stat boards are giving scholarships now. From what I see, it's now very hard for local grads nowadays to compete with these many overseas scholars and the local grads would not be a happy bunch.

This guy has sum it up pretty well (taken from ST not too long ago):
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Good grades cannot equal experience

I GREW up believing that Singaporeans should work hard and strive for stability. However, I have seen attitudes change as a new generation entered the work force. With the introduction of scholars, many young bright students with excellent academic qualifications leapfrogged ahead of their peers as well as many experienced senior workers.

This has left behind a group of very unhappy Singaporeans. This large group, coupled with the generations X and Y who are not among the selected scholars, will be the forces that the PAP (People's Action Party) Government will have to deal with.

Finding willing and capable Singaporean leaders to step forward to lead a group of unappreciative followers may become a problem for us as a nation. We have to continue with the basic building blocks of family and community bonding. We need to continue to discipline our children as they grow up.

We also need to continue rewarding experienced workers with higher salaries. Intelligence and academic achievement can never equal experience.
- Joseph Lim Beng Huat