It should be better than the older one because of the added AC wifi support. That being said it seems not so easily available in Singapore.
NVidia Shield TV is at a different class than Mi Box and if the cost is not a concern by all means get it. If cost is a concern then get Mi Box if you need official Google certified Android TV.
For those who do not need official Google certified Android TV, another option is the FireTV devices from Amazon, pretty easy to side load apps from what I read.
After the above, you can also consider non-Android choices like Roku and Apple TV (for Apple device users).
Google Chromecast is another good device to have even though it is built-in for Official Android TV device like the Mi Box.
After the above, then it comes to generic Android OS based TV box where you can try better brand like Zidoo, Beelink or Minix if you do not want to venture with lower end boxes.
List of TOP 10 Android TV box review
https://youtu.be/HGs8yF5VOvU
https://docs.google.com/spreadsheets/d/1k3_2LBJDzj6JPGw2lADwTi2qvZQpKKy6L4mO7jLm1LQ/htmlview
Nvidia Shield is No 1 and Mi Box is No 4.
No 2 and 3 are for people who want to play a bit of game and big Kodi build and do not need Netflix.