Is it true for only child, parents of the child need not do nomination of their assets (E.g. CPF, HDB flat, bank amount) as the Public Trustee Office will eventually give these assets to the child?

In Singapore, if a person passes away without a will (intestate), the Intestate Succession Act determines how the assets are distributed. For an only child, this typically means that the child will inherit the entire estate. However, it's often advisable to make a nomination for assets like CPF, HDB flat, and bank accounts for clarity and to expedite the distribution process. The Public Trustee Office does handle un-nominated assets, but having a clear nomination can simplify and speed up the process. For more information on estate planning in Singapore, you can refer to this article

Yes for CPF but really slow. not sure about bank accounts as went through lawyer with bank statements so quite fast since you know the amounts.

But you have to pay a fee to PTO which can be substantial. if you get a nomination and will, you can avoid the fees

For a peace of mind, just do estate planning