Singapore

I guess im not the most objective about this but I would have to say Singapore. There's a bunch of great places to go to and they are not all that far away from each other. Clarke quay and Mohammed Sultan Road are some really good spots to celebrate. I'm most likely going to spend New Year's eve in Singapore too and I hope its going to be great. I was in Bangkok last year and 3 hrs from the countdown, there were some bombings so the whole celebration was called off and I ended up singing karaoke with my friends in the house. Not a sound on the streets at 12 midnight :(

The Nightlife in Singapore is phenomenal! The Ministry of Sound in Singapore is apparently the biggest in the world! & plays some awesome music. Lot of other clubs as well. Wednesday nights are free entry for the girls so its wednesdays when you have the maximum crowd coming in!

You might want to stay in backpackers hostel, coz those guys organize pub-crawls for the backpackers & there is no better way to know a city than thru a localite.
I was there in April last year & had the most amazing time. Incase u need any help regarding places to visit & accomodation do write in.

Cheers,
Porus

P.S. - For spending the New Year's eve - Goa [India] is the best place :D