Two pieces of stone cladding fell from the facade of Bharat Building in Raffles Place on Wednesday, breaking part of the glass canopy at the property's entrance.
The pieces came off from near the top of the 10-storey commercial building that was built in 1990.
The Building and Construction Authority (BCA), which is investigating, confirmed there were no reported injuries in the incident.
A spokesman for BCA said it was informed by the police about the incident around 3.30pm. The Straits Times understands the incident occurred around 1pm.
BCA engineers at the site assessed that the structural integrity of the building was not affected by the incident.
But, as an immediate precautionary measure, the affected area directly below the fallen stone cladding has been cordoned off, said the BCA spokesman.
BCA has instructed the building owner to appoint a professional engineer to investigate the cause of the incident and to inspect the condition of the rest of the stone cladding, as well as carry out permanent rectification works recommended by the professional engineer.
The building is jointly owned by UCO Bank and Indian Bank.
When contacted, UCO Bank declined to comment.
This is the second such incident in about a week.
A number of heavy metal sheets fell from WIS@Changi, a six-storey commercial building, on April 4, prompting the BCA to order the owner to carry out a detailed investigation into the incident.
No one was reported to have been injured, although one eyewitness was quoted as saying that a woman had a narrow escape.
The eyewitness, who works in the building, said that metal panels also fell from the building's facade on March 28.