If I am in your position, I would go for Singapore. Actually I was working in Singapore for almost 5 years before I came to US. Idid my higher studies in Singapore too..$4k is not a low income there. Malaysian 6k ringett is equivalent to 4k sing dollars. Life style in Singapore is better when compared to Malaysia. If you live in kuala lampur, then its ok. other wise you would not enjoy much in Malalysia.
In Singapore, if you go for single bedroom flat, it costs you 600$ per month. if you go for 2 bed room flat it costs you 900 to 1000$ based on your location. If you share with your colleagues, it is very cheap...If you are willing to travel for 30minutes or 45 minutes for your work place, it costs you cheaper for the apartments. Moreover public transportations are amazing in Singapore. You would not feel tired. If you spend a normal life, you can save around 2500 sing dollars per month. You spend lavshly, you can save around 1000$....Everything depends on how you want to lead life. If you go for condemenium, it costs you around 2k per month. again it would be cheaper if you share with your friends. Usually those who start their career wont go for that.
After your one year contract, normally company would extend your contract (normally) in singapore. You can demand them atleast 15% to 20% hike in salary. Moreover if you look for a new opportunity after your one year you can demand 25% increase in your next project.
Dont ever do the mistake of finding a new job after your contract is over. Try to have a job in your hand before you come to know about your contract extension...Usually they will do it in the last minute...If you have job in hand, and then search a job, you will be in safer position.. I have experienced this kind of situation. That is why I am insisting you for this...
Hope this reply helps you to make a decision.
Let me know if you need any information. If you know your work location, let me know so that I can suggest you where to look for an apartment...
Good luck for your future..