That's a lot of budget man.
I suggest go for Sony Walkman series if you look for a superb sound quality, go for Creative if you want more storage with cheap price:

http://www.sony.com.my/sonystyle/product/p...ubcategoryid=40

NWD-B103F
1Gb
RM199

Pro :
Direct USB
Drag & Drop Copy without Application Software
Built-in "Auto Transfer" Software
Easy music Transfer with MiniMicro
Additional Valued Functions :(Voice REC FMFM REC)
Multi Language Support for MENU
3-Line colour LCD
EQ

Con:
12 Hours Playback
Longer charging time = 2 hours to get full

IMHO, the sound quality is very good compare to other mp3 since it's carry the Sony "WALKMAN" reputation. I tried this one before, but I'm not get to it. Good for low budget choice.

or

NW-E013F
Rm299 for 1GB

Pro:
Clear audio technologies (Clear Stereo,Clear Bass)    
Small size & Glossy Colors
30h Playback 3min charge 3h play(QUICKCHARGE!)
Full charge for 1 hour
3 Lines Color LCD Display
Time Date
Direct USB(USB2.0)
VPT Acoustic engine 5 Band Equalizer
Blind operation concept
Multi Codec (ATRAC MP3 WMA AACL-PCM) : ATRAC Advanced Lossless is not supported
FM tuner
EQ
STAMINA 30 HOURS TOTAL BATTERY PLAYBACK    
Contra:
Sonicstage Software  required

IMHO this is the best I own so far. The Clear Bass feature is superb. Beat the w850i bass quality. With the Clear Stereo features, you could hear more deep the music with wider ranger of dimension. This is totally for audiophiles out there. The bundle earphone did a very good job even it's look cheap.