On the whole, great effort! Look forward to participating.
It also helps to have a site where there's a high chance that the person you're talking to is close enough to meet up for coffee. =)
Consumer Internet companies here are predominantly English language.
Make it a craigslist of startup/tech discussion and maybe even have the best local content percolate to a top-level/global page.
I think if you stayed on a local page you immediately get back to a vibe of the early days of HN simply because of the reduction in readers/commenters and realignment of interests (ie: the startup scene in Singapore).
Not that I don't like your idea, just that what you're asking for is a reduction of scope that I think pg has specifically not intended.