VA do not fly to Eu. LAX & HKG is as far as it fly's from Oz. Anything else would be on ff partners. Compared to SQ not many VA ff partners. Have you priced out award availability & costs from Eu Oz with VA ffp?

SQ is good product and being in Star Alliance has a large number of ff partner airlines & destinations.

With a lot of points from Citibank to me transfer VA to SQ is the way to go.
As a guess award availability is more important than cost in ff miles/points.