Companies' prompt payments rebound after falling for three quarters: SCCB

Local firms payment performance has rebounded in the first quarter of 2019 following three consecutive quarters of decline, the Singapore Commercial Credit Bureau said on Tuesday.LOCAL firms payment performance rebounded in the first quarter of 2019 following three consecutive quarters of decline, except for the construction sector, the Singapore Commercial Credit Bureau said on Tuesday.

On a quarter-on-quarter basis, prompt payments increased by 7.87 percentage points to 51.70 per cent in Q1 2019, from 43.83 per cent the quarter before.Slow payments decreased by 1.43 percentage points to 36.59 per cent, from 38.02 per cent the quarter before.Meanwhile, partial payments fell by 6.44 percentage points to 11.71 per cent in the first quarter, from 18.15 per cent the quarter before.

“The rebound in payment performance should come as no surprise given that slow payments have been on a decline since Q4 2018," said Ms. Audrey Chia, D&B Singapore’s chief executive officer. The construction sector saw slow payments worsen in Q1 2019 after four straight quarters of improvement. Its slow payments rose 4.49 percentage points q-o-q to 47.72 per cent, from 43.23 per cent in Q4 2018. Y-o-y, slow payments decreased by 1.42 percentage points to 47.72 per cent.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Spotify to buy third podcast company ParcastSpotify Technology SA said on Tuesday it has agreed to buy Parcast, the third podcast company it is purchasing in two months, in an ongoing quest ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Seoul: Stocks rebound as foreigners turn net buyers; won rises[SEOUL] South Korea's Kospi stock index rose slightly on Tuesday as foreigners turned net buyers following a sharp decline in the previous session. The Korean won edged higher against the dollar and the benchmark bond yield rose. The Seoul stock market's main Kospi closed up 3.94 points or 0.18 per cent to 2,148.80 points. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Citigroup to enter burgeoning consumer payments businessCitigroup Inc said on Tuesday it is developing a consumer-payments platform, in a move to enter the rapidly growing digital payments industry.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »