[{"@context":"https:\/\/schema.org\/","@type":"NewsArticle","@id":"https:\/\/thehomeground.asia\/destinations\/singapore\/latest-news-19-january-2021\/#NewsArticle","mainEntityOfPage":"https:\/\/thehomeground.asia\/destinations\/singapore\/latest-news-19-january-2021\/","headline":"Latest News: 19 January 2021","name":"Latest News: 19 January 2021","description":"1. Construction sector forecasted to recover in 2021, driven by public sector projects A moderate recovery in construction demand is forecasted in 2021, bolstered by public sector demand; numerous \u201cmajor\u201d infrastructure projects are to be awarded this year in construction contracts worth between S$23 billion and S$28 billion, according to the Building and Construction Authority […]","datePublished":"2021-01-19","dateModified":"2022-04-15","author":{"@type":"Person","@id":"https:\/\/thehomeground.asia\/author\/nurhuda-a-bakar\/#Person","name":"THG Team","url":"https:\/\/thehomeground.asia\/author\/nurhuda-a-bakar\/","identifier":192,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/dc34876b3fb3590dc3c3af86fecb433aaaadfb1c38122c5a851f730f44b6a43d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/dc34876b3fb3590dc3c3af86fecb433aaaadfb1c38122c5a851f730f44b6a43d?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"TheHomeGround Asia","logo":{"@type":"ImageObject","@id":"https:\/\/thehomeground.asia\/wp-content\/uploads\/photo_2021-07-22-222533.jpeg","url":"https:\/\/thehomeground.asia\/wp-content\/uploads\/photo_2021-07-22-222533.jpeg","width":640,"height":640}},"image":{"@type":"ImageObject","@id":"https:\/\/thehomeground.asia\/wp-content\/uploads\/1611024488303_TON_1280X626_28229.png","url":"https:\/\/thehomeground.asia\/wp-content\/uploads\/1611024488303_TON_1280X626_28229.png","height":626,"width":1280},"url":"https:\/\/thehomeground.asia\/destinations\/singapore\/latest-news-19-january-2021\/","commentCount":"3","comment":[{"@type":"Comment","@id":"https:\/\/thehomeground.asia\/destinations\/singapore\/latest-news-19-january-2021\/#Comment1","dateCreated":"2026-05-02 08:55:20","description":"You\u2019ve explained it perfectly.","author":{"@type":"Person","name":"world tv live streaming","url":"https:\/\/www.dracisumperk.cz\/media_show.asp?id=551&type=1&url_back=https:\/\/www.oneotv.com\/"}},{"@type":"Comment","@id":"https:\/\/thehomeground.asia\/destinations\/singapore\/latest-news-19-january-2021\/#Comment2","dateCreated":"2026-04-26 14:18:12","description":"This deserves more attention.","author":{"@type":"Person","name":"Salomon shoes feid","url":"https:\/\/globalshoepalace.com\/product-category\/men\/Salomon-Men-Shoes"}},{"@type":"Comment","@id":"https:\/\/thehomeground.asia\/destinations\/singapore\/latest-news-19-january-2021\/#Comment3","dateCreated":"2026-04-24 08:35:28","description":"This should be featured everywhere.","author":{"@type":"Person","name":"womens salomons sale","url":"https:\/\/globalshoepalace.com\/product-category\/women\/Salomon-Women-Shoes"}}],"about":["Community","Local","Singapore"],"wordCount":1223,"articleBody":"1. Construction sector forecasted to recover in 2021, driven by public sector projectsA moderate recovery in construction demand is forecasted in 2021, bolstered by public sector demand; numerous \u201cmajor\u201d infrastructure projects are to be awarded this year in construction contracts worth between S$23 billion and S$28 billion, according to the Building and Construction Authority (BCA).\u00a0This is up from the S$21.3 billion awarded in 2020.\u00a0The Government will contribute approximately 65 per cent of this year\u2019s overall construction demand, amounting to between S$15 billion and S$18 billion (as opposed to the S$13.2 billion worth of public sector projects in 2020).\u00a0These projects will mainly be of major public housing and infrastructure, such as the Integrated Transport Hub at Jurong East, the Jurong Region Line, and the Cross Island Land.\u00a0Additionally, there will also be approximately S$6 billion worth of smaller public sector projects such as cycling paths and upgrading works.\u00a0However, private sector demand is not expected to recover just yet as investors are \u201clikely to remain cautious\u201d, according to National Development Minister Desmond Lee. Instead, private sector demand is projected to fall within S$8 billion to S$10 billion.\u00a0In the medium term, the construction sector\u2019s growth will be supported by public sector developments including public housing, transport, and healthcare infrastructure. These projects will contribute S$14 billion to S$18 billion each year.\u00a0Stronger recovery is expected over the next five years, with early forecasts that construction demand may further strengthen to S$25 billion to S$32 billion between 2022 and 2025.\u00a0Meanwhile, the Government will continue working with industry partners to ease the labour crunch caused by challenges in bringing in new foreign workers. They will also push for the adoption of digital technologies to improve the industry\u2019s resilience in the long-term.\u00a02. New guidelines introduced for financial institutions to combat risks of cyberattacksThe Monetary Authority of Singapore (MAS) has issued a revised set of guidelines for financial institutions to better mitigate cyber risks. This includes requiring them to have strong oversight of their third-party service providers and technology vendors.\u00a0The new guidelines apply to banks, payment services companies, as well as trading and insurance firms.These guidelines are announced amid a spate of cyberattacks globally.\u00a0Under the new measures, it is stated that financial institutions \u201cshould assess and manage its exposure to technology risks that may affect the confidentiality, integrity and availability of the IT systems and data at the third party before entering into a contractual agreement or partnership.\u201dAdditionally, they should also ensure that third-party and open-source software codes are subject to review and testing before integrating them into their own software. Cyber exercises should also be conducted regularly to stress test their cyber defences.\u00a0A chief information officer and chief information security officer will also need to be appointed and held accountable for managing cyber risks under these new measures.\u00a0This is on top of additional guidance on the roles and responsibilities of the board of directors and senior management of financial institutions. It is also stipulated that the board itself should include members with relevant knowledge to provide effective oversight of cyber risks.\u00a0Firms are expected to observe these guidelines and it will be a part of the risk assessment of financial institutions by the MAS.\u00a03. Singapore\u2019s exports rebounded 6.8% year-on-year in December 2020Singapore\u2019s non-oil domestic exports (NODX) rebounded by 6.8 per cent year-on-year in December 2020. This is the first positive print for NODX in three months and follows a 5 per cent drop in November 2020.The rebound was boosted by a rise in shipments of non-electronic products; specifically, there was a 5 per cent year-on-year increase in the shipment of non-electronic goods (as compared with a 5.3 per cent decline for the segment in November.\u00a0Specialised machinery was one of the largest contributor to the increase, having risen by 30.9 per cent. This is followed by non-monetary gold (14.5 per cent) and measuring instruments (21.4 per cent).\u00a0Meanwhile, electronics also grew from a low base a year ago, having risen 13.7 per cent year-on-year since December 2019. This follows the 4 per cent decline in November.\u00a0In the electronics segment, integrated circuits, personal computer parts, and diodes and transistors contributed the most growth, rising by 15.7 per cent, 33.8 per cent, and 16.5 per cent respectively.By country, exports to Singapore\u2019s top markets mostly rose in December. However, exports to China, the European Union, Indonesia, and Japan declined. Meanwhile, exports to the US, South Korea, Taiwan, and emerging markets grew.\u00a0Overall, total trade fell by 0.3 percent in December on a year-on-year basis, as compared to a 7.3 per cent drop in November 2020. This can largely be attributed to the decrease in oil trade and lower oil prices.\u00a04. Americans give back to the community to mark Biden’s inauguration as presidentAs part of the events leading up to the inauguration of United States President-elect Joe Biden on 20 January, a group of Americans living here in Singapore distributed over 400 care packs to needy families living in a rental block.\u00a0The distribution drive, held on 18 January, was part of a National Day of Service in the US that was organised by the Presidential Inaugural Committee (PIC) for Mr Biden and Vice President-elect Kamala Harris.It was the first such initiative to be organised outside of the US in collaboration with the PIC. The local event had been organised by the American Chamber of Commerce (AmCham) and the American Association of Singapore (AAS).The care packs were purchased with about S$10,200 which had been donated by Americans living here; they consisted of rice, Milo, detergents, and toiletries. Distribution was carried out by about 35 volunteers, including AmCham\u2019s staff and board, and members of AAS\u2019 leadership.\u00a0The annual day of service falls on Martin Luther King Jr Day, a federal holiday in the US. It was first observed in 1986 in memory of the civil rights hero. Since 1994, Americans have been encouraged to commemorate the day through acts of service.Including this day as part of Mr Biden\u2019s inauguration activities follows the actions of former president Barack Obama\u2019s, who observed it as part of his 2008 and 2013 inauguration activities.\u00a05. Gusty winds in Singapore normal at this time of the yearGusty winds were recorded on Monday, 18 January, with weather experts attributing this to the northeast monsoon surge. According to them, strong winds are not unusual for this time of the year.According to the Meteorological Service Singapore, wind speeds reached a high of 49.3kmh at the Admiralty weather station. Generally, high wind speeds also result in strong gusts.\u00a0The current strong high pressure system in China is creating a surge of northeast winds over the South China Sea, which is responsible for the windy, cool, and rainy conditions that Singapore has been experiencing.\u00a0It is expected that these blustery winds will last for as long as current conditions over China persists, which is predicted to be just a couple of days.\u00a0The strongest winds typically occur during the northeast monsoon in January in February. Under normal conditions, winds in Singapore are generally light, with surface wind speed of less than 2.5 m\/s. A northeast monsoon surge can see mean speeds of 10m\/s or more.\u00a0The Met Service has said on Friday that Singapore can expect fair and occasionally windy conditions on a few days in the latter half of January. Join the conversations on THG’s\u00a0Facebook\u00a0and\u00a0Instagram, and get the latest updates via\u00a0Telegram."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Destinations","item":"https:\/\/thehomeground.asia\/destinations\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"Singapore","item":"https:\/\/thehomeground.asia\/destinations\/\/singapore\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"Latest News: 19 January 2021","item":"https:\/\/thehomeground.asia\/destinations\/singapore\/latest-news-19-january-2021\/#breadcrumbitem"}]}]