I found the document I got from the Traffic Police Fax-on-Demand service. The relevant quote you are looking for is below:
"If you are residing in Singapore for less than twelve months, you are not required to convert your foreign driving license to a Singapore driving license. You may drive in Singapore with a valid International Driving Permit issued by a foreign Automobile Association. If an International Driving Permit is not available, an official translation in English is required.
For foreigners on Employment Pass/Dependant Pass/Student Pass/ or Work Permit and residing in Singapore for more than twelve months or if you are a Singapore Permanent Resident, you are required to convert your foreign driving license to a Singapore driving license in order to drive here. If you convert your foreign license within 12 months from the date you first entered Singapore, you only need to pass the Basic Theory Test, which familiarizes you with Singapore's Highway Code."
This should clear up your question. Singapore DOES recognize International Driving Permits, and apparently makes no special recognition of UK permits.