In Singapore, it's mandatory, I think the experience varies from individual to individual. I didn't quite enjoy the experience - I am not really fit so it's tough and personally I am not a fan of regimentation, but that said, there are always positives like picking up of soft skills and forming close friends, some of whom I still keep in close contact even till now (almost 20 years!)
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It's good to see there was some benefit for you.