The M50TUB25 in the '95 car has 20 bhp more than the M50B25 in the '91 car. That assumes both engines have been maintained equally well. 20 bhp might not seem like a lot, but if you try driving a '95 520 (~150 bhp) and a '95 525 (~190 bhp), the difference in terms of pick-up is like night and day. So if 40 bhp makes a world of difference, then maybe 20 bhp is significant in terms of power. Up to you and your driving style though.
My '96 525 4-speed auto drinks. Lots. And I try to drive as smoothly as possible with a light right foot. If you do high-mileage, and fuel economy is more important than power, then the 5-speed is the way to go.
Assuming all the other important stuff like maintainance, mileage, etc, are equal, personally, I'd go for the newer car since it doesn't have a sun-roof (pretty much useless in Malaysia, and is going to be a source of leaks and mechanical trouble), and more importantly, it's not a UK car (which chances are will have or be more prone to rust due to all the salt sprayed in the roads during winter over there).