The price tag I provided didnt factor in land costs and as far as labor goes I cant imagine singaporean labor being much cheaper than hong kong.
You forget that Disneyland Hong Kong also opened with a lot of cheap small attractions like a carousel, tea cups and 2 spinner rides. Hong kong only had 2 major attractions at opening jungle cruise and space mountain. Whilst Universal Singapore had 5 major attractions Transformers, Battlestar Galactica, Mummy, Jurrasic Park and Madagascar.
I cant imagine Universal capacity being much smaller than Disney.