Having had two family members work there, and some close friends i will say this:
great work experience opportunity for you.
great chance to make cash (maybe not as an intern)
a real lesson in cultural sensitivity
Now, i don't want to offend but as a chinese singaporean you may find it hard to go from being part of a majority to being part of a minority. Two of my chinese singaporean friends who have often commented that they never understood why the minorities in singapore complained of 'racism' until they left and worked abroad (in the middle east, incidently!) as has one of my previous supervisors (HK chinese).
So in my opinion it is probably a great opportunity to expand your horizons and view point - and although you may say 'i am already culturally sensitive and have broad horizons' (i know i did many years ago) it won't be until an experience like the one you are potentially undertaking that you realize how much more there is the learn.
So my advice, go for it. It'll do you good as a person, look great on your CV and help getting any other lucrative jobs in the ME later on in life.
Go for it!