The eight detained under the Internal Security Act were issued with two-year Orders of Detention in late April this year, said the Ministry of Home Affairs (MHA).
Home Affairs Minister K Shanmugam said, "They were looking at bomb making, they have material on sniper rifles, they have collected money and they have list of targets.
"They have pledged allegiance to Islamic State," Shanmugam told reporters today, adding Singapore could have been a target for ISB since they were prepared to attack anywhere.
"I think blocking sites on the Internet is not an easy thing to do, we have to recognise that. We have to put a lot of emphasis on education, inoculation, but also recognise different people face different influences. These ideas are sweeping through the world and the entire region, including Singapore," he said.
The eight were part of a secret group called the Islamic State in Bangladesh (ISB).
MHA said it is the first group comprising all foreigners to be detained under the ISA for terrorism-related activities in Singapore.
While they were all employed in the local construction and marine industries, there was no significant concentration in any particular company, it added.
The members had met largely at open parks or fields when they shared "large amounts" of radical propaganda and videos.
The group also had an organisation structure with specific roles, such as the leader or persons assigned for tasks like finance, MHA said.
It added that Bangladeshi authorities have been informed of the group and its activities and "have been helpful" in providing some information.
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Investigations are ongoing and the ministry said it is not able to comment further on the matter.
As for any links to the 27 radicalised Bangladeshis repatriated from Singapore in December 2015 for terror links.
MHA said: "There is no indication that this group of Bangladeshi nationals are also members of the Bangladeshi radical religious group who were arrested last year."
It added that some of them did know each other "because they chanced upon one another in Singapore".
Bangladeshi newspaper 'The Daily Star' had reported on yesterday that the five had been arrested back home and face legal action.
The ministry said the uncovering of the ISB in Singapore sends a "strong signal" that the country cannot take its security for granted or be complacent.
"As part of ongoing heightened vigilance against the terrorism threat, Singapore has enhanced our law enforcement agencies' capabilities to prevent, detect and respond to terrorist attacks," MHA said.
There are currently 23 persons detained under the ISA for terrorism-related activities, MHA said.
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