Local firms' payment performance nosedives to three-year low in Q1

Submitted By:  Staff Reporter Case Study:  No Delayed payments made up 45.8% of all transactions during the quarter. The payment performance of Singaporean firms fell to a three-year low in Q1, with prompt payments—or payments made on-time with the deadline—accounting for only 43.2% of total payment transactions during the quarter, according to data from the Singapore Commercial Credit Bureau (SCCB). On a yearly basis, prompt payments dropped 8.5 percentage points (ppt) to 43.2% in Q1 from 51.7% in Q1 2019. Prompt payments hit a previous low of 42.18% in Q3 2016. read more