This is Vespa tropica, the greater banded hornet, one of the biggest and more common hornets in Singapore. This species is a predator on nests of other social wasps and bees. In fact, I believe that if you leave that nest alone, it is only a matter of time before these hornets attack and wipe the colony out, driving the adults away and capturing all larvae and pupae to feed their own offspring. A colony of these hornets in tropical areas like Singapore may well have to attack 500 or more colonies of paper wasps or honeybees throughout its lifespan!
These nests don't grow so fast, so a week isn't enough to see a difference in size. But they are often building on extremely thin plant stems so it doesn't seem that the branch is too thin to support them.
Thanks again vespa for the interesting and useful facts.
