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Can anyone shed any light as to when searching for something local in Asia region local English language sites just do not appear with rankings as high as other sites such as .co.uk as an example
I could make some guesses as to why you're seeing those foreign sites in your SERPs:
OTOH, google.com.au is behaving totally differently for finance-related terms today compared to google.com for the same terms.
I am only seeing this in the finance and real estate sectors, not a broader business context. The effect is less dramatic for doctors and dentists. The logic seems to be "If I am looking for a home loan, I must surely want to buy a home loan, therefore I want .au results."
Perhaps Google Local is being tested for AU and this is an artifact? Keep an eye on local.google.com.au (not live yet and I have no insider knowledge).
[maps.google.com...]
On the language side, the clear majority of Singapore websites are in English, the same goes for many other regional countries, most people in Singapore search in English, and a very high percentage in Malaysia, HK, India and other countries do too. The same would apply for South Africa and many other countries.