Late payments rise for Singapore firms

1 July 2020

Payment delays among Singapore firms continued to rise for another quarter as the economy’s coronavirus-induced partial lockdown bit suppliers.

A report from the Singapore Commercial Credit Bureau (SCCB) said slow payments, defined as those made at least 30 days late, increased to 45.78% in the second quarter, up 3.2 percentage points from 42.58% in the first quarter. Year-on-year, delayed payments were up 8.6 percentage points.

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