According to the report, slow payments fell by another 0.07 percentage points (ppts), from 44.07% in 2Q2024 to 44% in 3Q2024. On a y-o-y basis, slow payments fell by 0.25 ppts from 44.25% in 3Q2023 to 44% in 3Q2024.
Payment delays among local companies have hit a three-year low and slow payments improved for the fifth consecutive quarter in 3Q2024, according to a report released by the Singapore Commercial Credit Bureau (SCCB) on Oct 7.
SCCB is a subsidiary under the Credit Bureau Asia (SGX:TCU
) (CBA), a credit and risk information solutions provider in Southeast Asia. It monitors more than 2.4 million payment transactions in which data is contributed by local Singaporean firms.
