The share of Singapore companies that experienced ultra-long payment delays increased last year, following a broader regional trend that was also seen in Thailand and Hong Kong, according to a report by Coface.
Meanwhile, more than a third of the respondents in the construction and metals businesses reported ultra-long payment delays. “Textile faced higher production costs and rampant demand, and construction suffered sluggish China property sector and a high interest rates environment in most markets,” Coface said.
The average payment terms were also reduced to 64 days from 66 days previously as a result of the tight credit environment.
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