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Comments
http://www.halfdedi.com/ but not really lowend.
VRTServers/PerfectIP?
http://www.perfectip.net/productList.php?catId=1004#1002
Don't know if they're reliable, but reading reviews would scare most people away, heh. Only mentioning them because they fit the price, though!
The fited price is for US location
HK location price is much higher 
For Singapore the cheapest I've seen seems to be ExpertVM (http://www.lowendbox.com/blog/expertvm-6-99-256mb-openvz-vps-in-singapore/), however do not expect the bandwidth / monthly allowable traffic to be on the same level as those that you can get from US/EU.
Thanks for replies guys. Though i still see no provider fits my budget. Halfdedi looks promising but their babdwidth allowance is way to low. And yeah, i see they post offers frequenty on WHT. SecureAX is out of my budget.
I am looking for somethings like 500GB/month bandwidth atleast.
Do you this it is feasible to find one?
Still under the $15 they mention.
@haphan, if you manage to find such offer, I guess all of us would be interested to know the provider.
Well at least in SG, 1mbps (300GB) costs much more than 15 bucks.
Sorry, I missed that part
Was though he was looking for a box below $7 
First of all the link I'm posting is not exactly related to what you want. I am posting hoping it may help you.
I saw following offer in WHT.
T-Rex Cloud in Indian DC
It comes with-
1.7 GHz Single Core CPU, 960 MB Ram, 20GB HDD, 1Mbps unmetered bandwidth (Roughly 300GB), Xen Based @ $20 per month.
It's not cheap. But if you compare with other providers, so far this is one of the best offers I have seen. Good amount of RAM, Disk space provided. Hope this helps.
@biplab, it's 1mbps.
@eLohkCalb
Wikipedia says Mbps is correct.
Data Rate Units
@biplab, don't get me wrong, I don't mean to say the unit is wrong. I just want to emphasize that the bandwidth is 1Mbps.
PS: I don't think anyone would relate mb as millibit.
a millibit would be 1/1000 of a bit
@eLohkCalb
Oh! I misunderstood your post.
Anyway, 1Mbps unmetered @ $20 per month is cheap in Asia region. You can get better network speed elsewhere in Asia. But Bandwidth allocation will be much smaller than what you can get here. Bandwidth in Asia is very expensive.
Do you really need your server to be in Singapore/Hong Kong?
1 Mbps is 0.125MB/s. Downloading a 100MB file will take at least 13.33 mins to complete when you can download in 2 sec in US/EU.
My target visitors are located in SEA thus a node in HK/SG is definitely helpful. It is unlikely that I will find one with my budget
Do you mean Seattle? I just can't really understand it then.
BTW, if you are looking for something in Asia, look nowhere except HK, SG or Tokyo. You will get much better connectivity. Anyway, Linode and VPS.net are now providing "Cloud Servers" at Japan. However, they are both exceeding your budget but you can sure that you're in good hands with them.
Good luck.
@klikli South East Asia
Do you mean Seattle? I just can't really understand it then.
BTW, if you are looking for something in Asia, look nowhere except HK, SG or Tokyo. You will get much better connectivity. Anyway, Linode and VPS.net are now providing "Cloud Servers" at Japan. However, they are both exceeding your budget but you can sure that you're in good hands with them. (EDIT: I just forgot TATA. If you like TATA, then VPS'ing in India might be a good choice too.)
Good luck.
EDIT: Umm if you are a fan of CloudFlare then you may consider using CloudFlare. CloudFlare had nodes in all Japan, Singapore and Hongkong so you may save some money for coffee.
Oops sorry. See the "edited" part of my post.
In sea?
I mean South East Asia (S.E.A). I guess the term is not that popular in the first world then.
You people are right, only SG, HK and JP may provide decent connectivity except they are way to expensive.
So I come up with an idea, though it may only applicable for my situation only but i guess it could help someone here.
My application which I am deploying is an image sharing website like 9gag. It eats tons of bandwidth for loading images. My trick is that the website/html can load fast but the images part can be slightly slower.
So my solution is to put the front-end web server in JP (Linode has boxes in Japan with very limited bandwidth), this server only load html content. There will be 2-3 other low end servers vps in the US/UK (with tons of bandwidth - Buyvm/Frantech is very good! Please don't kick my ass @Francisco @Aldryic ). These servers will host the image part.
Let me know what you guys are thinking?
Why not just use cloudfront or something
It's a good idea to put media files on another server as ir reduces the load on the server. Also media files required a lot of bandwidth and it makes sense to get the media server from US/EU.
Maybe use Amazon S3/Cloudfront in Tokio to host the images?
S3 costs 0.20$/gb traffic
If it's 0.20$/GB, 500GB will be 100$.
Unfortunately, the Singapore (SEA) LEB market is still pretty dead currently. I've been trying to get this off the ground, but bandwidth and IP issues are preventing me from doing so
@Boltersdriveer what about Malaysia? We have a couple cheap DC here in Indonesia, but the IP cost little bit high hehehe around 25-35k IDR per IP per month. :P
What is your recommendation for Malaysian providers? Malay is fine for me, it is very close to SG though
@haphan out of idea.. sorry.. that's why i'm asking this to @Boltersdriveer . He lived in Singapore so i think he should know anything related with Malaysian Server/Hosting.