I am afraid that he is right on all that he has said.
1) Continental Europe diplomas are equivalent to degree in many instances and in some case are considered as professional qualification and higher than degree. The German technical diplomas are one good example of a diploma that is considered higher than basic degree.
2) SIM does not have right to issue degree. Only Unisim
3) Degrees can be completed within a year but not recommended. 2 years is quite common as well. NUS has done a few such cases. They even did a special 2 year law course for 2nd degree holders under a govt sponsorship.
I don't blame you as most Singaporeans are ignorant of things outside Singapore. You see the surprise and delight of Singaporeans when they travel outside Singapore for the first time and realise that the desk clerk at the Phuket hotel can speak good English.
You fool! You fail to understand again, there is no big deal to study overseas as anyone with money can study overseas.