Given the absurd prices of hotels in downtown Singapore, the Value Hotel Balestier is a pretty good value. It's only a few MRT stops from Orchard Road and less than half the price of a similar hotel in that neighbourhood.
The positives: clean, soft mattress, a few english channels on the TV, free WiFi, nice staff
The negatives: small room, dark inside the room, no facilities
That said, I slept pretty well and it was under $130 Singapore dollars per night even after you added all the taxes and service charges. I'd recommend it as long as you plan to spend most of your time outside of the hotel.