“We are positive on the outlook for the tech sector in 2021,” notes CGS-CIMB analyst William Tng. “The Covid-19 pandemic has accelerated the digitalisation of many work processes, leading to higher demand for IT-related infrastructure,” says Tng in his Jan 4 report, “Tech is hot again”.
While many industries suffer amid the Covid-19 induced downturn, the global tech industry seems to be enjoying a strong lift, as demand for digital services, as well as computing and networking equipment stays strong. Beyond the pandemic, entire industries are moving at their own pace as they try out ways and means to undergo their own digital transformation journeys.
Singapore may not have a global tech name to call its own, but the strong external demand seems to be sparking off a flurry of investment and deal-making activities by some smart money, all taking place within the broader tech manufacturing sector. After all, without the components and moulds produced by these upstream suppliers, there can be no end products to speak of.
