This is what i think, so if it somehow offense anyone, i am sorry.
I stay in Malaysia for quite awhile, well from Sarawak to be exact. The reason i think that Singapore won't be a good place for kids is that they will be affected by peer influence, as i work here for 1 year, i notice most of the kids here being pampered by technologies. Even a young kid at the age bout 12 already having iphone 4. For this, i think this is a bad influence.
Also, staying in HDB where you all know that majority of the people here busy on working and have less time for their kid. And due to commitment in work, i notice my house owner don't know much bout their neighbor. So, your kid will ended up most likely in the flat doing nothing, or somehow they will know some kids from the block where their parent don't even care less. This is what i know from where i stay and what i observe. The truth is that Singaporeans are really bad at taking care of their children (no offense for those Singaporean that reading this).
And, Singapore here have too much disease. You call label me as "kia si" but during MRT ride, i notice a lots of people having serious skin disease and the cancer rate in Singapore are quite high. The pollution started as early at 5a.m. Smokers are everywhere at Jurong East (other places also having smokers). Even newspaper had statistics showing that the smokers in Singapore are increasing. Sarawak still having a better air than Singapore.
Lastly, i don't want to grow old in Singapore because once you reach certain age, you won't be able to do anything except watching TV inside the flat and sleep and eat. I rather buy a house in Malaysia where i got a piece of land where i can plant something. Well, at least i have something to do rather than in Singapore.
I'm not really sure if Singapore is a good place for Malaysian kids, but I think there is of course pro and cons..
If speaking of technologies I think it will certainly catch up on our country. In my state selangor its not weird to see school children getting expensive phones and ipods.. thought i haven't seen any ipads yet ... sooner or later sarawak will be the same as parents are so worried about their kids security hence they get them those phones.
I do think the kids here if they really went thru the education system they could be very well accepted globally. Maybe their hunger for success is not high enough. Recently they announce their exam results and it turned out to about 40% of them scoring excellent scores are foreigners especially the top one is from Malaysia. Well, enough said on Malaysian system where the best kids don't get the best opportunities in MY.. But in SG they do value those super bright students. My classmate from secondary school studied in Medicine in Singapore almost entirely free of charge.. of course with bond.