Payment delays worsen for manufacturing, services sectors

Singapore

SINGAPORE'S manufacturing sector again suffered the largest increase in slow payments among five sectors in the third quarter of this year, while the services and wholesale sectors also deteriorated quarter on quarter (q-o-q).

On the other hand, the retail sector improved with a q-o-q drop in slow payments, while payment performance for the construction sector was unchanged, according to a report by the Singapore Commercial Credit Bureau (SCCB) on Tuesday.

Overall, Singapore firms' payment performance remained weak, with prompt payments still accounting for less than half of total payment transactions in Q3, while slow payme…