Payment delays among Singapore companies drop to 3-year low

Slow payments fell to 44.0% in Q3 2024.

More Singaporean companies are paying their bills promptly, with payment delays falling to the lowest in three years in Q3 2024.

Data from Credit Bureau Asia (CBA) Limited, a subsidiary of Singapore Commercial Credit Bureau (SCCB), showed that slow payments fell by 0.07 percentage points (pp) quarter-on-quarter (QoQ) and by 0.25 pp year-on-year to 44.0% in Q3.

With the decline in slow payments, prompt payments rose by 0.09 pp QoQ and 0.24 pp YoY to 41.20% in Q3.

Meanwhile, partial payments slipped 0.02 sequentially but increased YoY by 0.01 to 14.80%.

Amongst the five sectors studied by CBA, three reported a decline in payment delays: wholesale trade, services, and retail.

Slow payments fell by 0.03 pp QoQ to 43.12% for retail, 0.23 pp QoQ to 42.35% for services, and 0.18 pp QoQ to 40.10% for wholesale trade.

On the other hand, manufacturing and construction saw increased payment delays, with slow payments rising by 0.02 pp QoQ to 55.26% and 0.07 pp QoQ to 39.15%%, respectively.

SCCB CEO Audrey Chia said the overall improvement in payment performance for Q3 reflects greater prudence among local firms in managing their cashflows and offering appropriate credit terms.

Follow the link for more news on

Singapore Commercial Credit Bureau.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia