Well...what are you into? If you want to just relax and the beach and party, Boracay is the way to go (as the previous poster has suggested). If you want something a little less commercialized, Bohol, Camiguin, (take a Singapore-Cebu flight) and Palawan (very pristine, but a little pricier) are great. For diving, you can stay around central Philippines - great dive spots can be found at Moalboal, Bohol, and Apo Island. A week's vacation can set you back from SGD 500-1000, including airfare. Again, it depends on what kind of accommodations you want and the activities you'll be doing. If you need more info, just drop me a note and I'd be happy to give you recommendations

All work and no play is totally missing the point.