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Singapore building firms struggle as overall slow payments in Q1 hit high since 2016

Commercial credit bureau says services, manufacturing led deterioration in payment for all 5 sectors

Published Mon, Apr 6, 2020 · 09:50 PM

Singapore

SINGAPORE firms have registered their worst payment performance since the third quarter of 2016, and the downtrend is expected to continue as firms are exposed to a higher risk of payment delinquency in the months to come, the Singapore Commercial Credit Bureau (SCCB) said in a report on Monday.

"The marked deterioration in payment performance is a clear sign that firms are struggling to meet their debt obligations with creditors," said Audrey Chia, chief executive officer of D&B Singapore, which SCCB operates under.

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