I doubt that SG Govt. will approve such a setup. First of all,
the control of explosives and research / building of any type of
military and tactical equipment is very controlled and sensitive to
them.
Secondly, it will be hard to compete with ST for the local market,
since they have a close tripartite relationship and special trust.
ST and DSTA share SAF's secrets and special needs, that SAF will
NEVER share their secrets with anyone else, not any commerical
contractor. Every ST and DSTA engineer is specially selected and
security screened. To compete with ST on this is impossible.
On the international market, its worse, how do you compete against
ST, Raytheon and much larger competitors with billions to burn for
R&D?
In Singapore, you can't do firings and tests without using SAF's
range. How do you do that in the first place as a private
contractor?
Its extremely remote chance that it can ever be approved, not even
having to study the commercial viability.