Covid-19 leaves Singapore creditors gasping for air

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SINGAPORE (April 6): As the Covid-19 pandemic leaves local companies struggling to maintain their cash flow, payment performance for Singapore firms plunged to a new three-year low for the first quarter of 2020. 

According to data from the Singapore Commercial Credit Bureau, overall prompt payments dropped by 3.03 percentage points (ppt) quarter-to-quarter, from 46.23% in 4Q2019 to 43.20% in 1Q2020. 

Year-on-year, prompt payment numbers crashed 8.5ppt, from 51.70% in 1Q2019.

This is the lowest rate of prompt payment since 3Q2016, when Singapore recorded...(click on link for full story on theedgesingapore.com)