my answer is going to be HELL YES! You get to experience life in a different culture and get alot more viewpoints than you would by staying here. Gives you a much better world view in my opinion just make sure as eikin said that its a quality institution and program so at least your education base will be covered and strengthened. After all you're there to study first and party 2nd.
seriously, if you can afford it, do go for it.
nothing beats the exposure of overseas universities.
that of course, is restricted which country you go to.
and do check with whatever company you intend to join when you're back.
cos some universities' certs aint recognised in sgp.(i'm not kiddin).
i've never regretted going overseas even though i was offered a place in NUS.