Okay, so I get this question all the time.  If you're in Singapore and you want to participate in the Imagine Cup, please read on:

Question: I'm graduating this year - can I still participate in the Imagine Cup 2007?
Answer: Absolutely!  As long as you're a student between January 1, 2007 and May 31, 2007, you are eligible to participate in any of the nine invitiationals in the Imagine Cup.

Oh, if you don't know what the Imagine Cup is... it's the world's largest software competition.  Check out more details at: http://www.imaginecup.com/.