Singapore firms see more payment delays in Q2; retail and services post highest jumps

Singapore

PAYMENT delays among firms in Singapore have risen for another quarter, with retail and services posting the highest jumps out of all sectors, amid the economy's coronavirus-induced partial lockdown.

According to the Singapore Commercial Credit Bureau (SCCB), slow payments, defined as those made at least 30 days above terms, increased to 45.78 per cent in Q2, up 3.20 percentage points from 42.58 per cent in Q1, which had marked a near three-year low.