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@gigavest is a good one in Malaysia & Singapore. A little higher than your budget.
Thanks for the mention Singhigh!
Unfortunately our Malaysia node is all sold out. Only Singapore and Canada left
http://www.gigsgigscloud.com/pricing/
This will fit your purposes - https://lighthosting.biz/portal/cart.php?gid=11
Malaysia location from $25/Year OVZ, KVM from $8/month
Thx dude.
But their KVM plan starts at 16$. way more expensive them I expect
I assumed OpenVZ will be fine. It will be very hard to find cheap KVM/XEN