Singapore firms paying bills more promptly in Q3

Singapore

LOCAL companies are paying their bills at one of the fastest rate in the past five years - due to tighter credit terms and the vigorous pursuit of debts. Electronics and construction companies are among those that are paying their bills earlier in the third quarter than a year ago.

The average number of days that a company paid its bills after they are due in Q3 is 36, down from 39 a year ago, said DP SME Commercial Credit Bureau on Tuesday. This pace, as measured by the days turned cash (DTC) national average, is one of the fastest in the last five years and is unchanged from Q2. DTC was 43 days in Q1 (See DTC figures).