You already define the activate time, meaning you have define the working efficiency factor. base on your input.
teco 1/4hp is 8hrs per day (working hours)
hailea 1hp is ~3hrs per day (working hours)
For Chiller Horse Power, the convention shld be the same. 1HP is 4 time powerful than 1/4HP, in other words ~4 time more power consumption with the same working time. For your case the working hour only improve slightly more than double per days. The ratio doesn't match for the saving of SGD50-60? may be some other factor?
Cheers & happy reefing.