I'd recommend Samick acoustics, but I'm not sure if they're available anymore. Last I checked, they had a few more at Davis, though Samick-branded acoustics are technically not in production anymore. I think they're really good sounding guitars for the money.
Davis also has Fina guitars, but from what I've heard, their quality control has gone south quite a bit. Takamine would be a good choice if TS is able to up his budget.
Actually, there are a lot of choices for affordable guitars in Singapore.