Is it a waste to redeem citi miles on SQ? Given it has the most transfer partners compared to other banks?

Yes and No. It depends on what your intended travel plans are. Given that citimiles have the most transfer partners, I would value them marginally higher than other forms of currency. There is also the fact that the long haul SQ experience is generally better than most other airlines out there, so there is no 'waste' in redeeming SQ biz to LHR compared to say, British Airways, plus the fact that SQ generally only allows long haul biz redemption to Krisflyer members. However, do your maths and ensure you are getting value for your redemptions.

I know that there are a lot of websites that compares the rates of miles spent per distance and all. Personally though I converted the Citi miles to use for a nearby trip that I would have otherwise felt that it was a waste spending that amount on an SQ flight and felt good about it. So really, do read up on these and see what you feel the most comfortable doing.