This itinerary is not correct for many reasons.
You can't go from LHR to DXB via BKK. That is going to Asia from Europe and then back to Europe (DXB is considered Europe). You have 5 segments in Asia with the HKG-ICN-HKG-DEL-HKG-SIN route.
Your little jaunt from SIN to MEL added a fourth continent, SWP.
It looks like you are misinterpreting the rules. Every connection you make (i.e. every different flight coupon you use) counts as a segment, regardless of whether you stopover at the connection city or not.
It seems that you need to be in ICN and DEL so you can reduce your Asia segments to 4 by dropping SIN.
You can have as long as you want between segments, just so you complete the trip in one year. If you specify the segments as open when you ticket then you won't get charged when you identify the dates and flights (this may change as there has been some reports of a charge being made for all changes).
As terenz noted, starting out in Europe (e.g. CDG) will save you money if you are flying business or first. Coach is almost a toss up.
(Edited to add answers to questions asked in new message.)
[This message has been edited by ExMo (edited 08-30-2002).]