I would choose based on affordability rather than BEng vs MEng.
If you're offered into NTU, congratulations, you are in the Top 10 Univ. There will be lots of challenges when studying in SG, which if you give time you will certainly able to overcome it. Also like what other forumers mentioned, you are likely to be hired in SG given graduate from NTU.

Don't be only book smart, be street smart as well, social networking around while in University, search for opportunity to work as intern or part time in engineering firms. Ask around, apply around, network around, don't just study study study. Nowadays experiences worth more than just paper.

I have interviewed many graduates and I always will choose the ones who are not only having a good degree, but also strive to gain some work experiences while studying. Too many spoil brats out there whom purely living using FAMA funds, and lack of understanding of the real world.