I would say that if you intend to work locally, degrees from
both universities should be equally valued and both are still well
respected overseas. NTU's chemical and biomolecular engineerings is
not an easy course though so make sure you are really capable for
it.
Personally my NTU friend from chem n biomolecular
eng managed to find a much better job than my NUS chem eng
friend but thats just only 1 example each that i know from chem eng
so i won't really say that is a sure thing or anything