SINGAPORE - Slow payments rose for local companies across all sectors in the third quarter of this year, with the cash flow woes of already worst-hit construction firms worsening.
According to the latest quarterly survey by the Singapore Commercial Credit Bureau (SCCB), slow payments rose to slightly more than two-fifths of total payment transactions while prompt payments fell to less than half.
On a quarter-on-quarter basis, slow payments increased marginally by 2.28 percentage points from 38.47 per cent in the second quarter of this year to 40.75 per cent in Q3.
Year on year, slow payments improved moderately, falling by 5.62 percentage points from 46.37 per cent in Q3 2016 to 40.75 per cent in Q3 2017...........
To raise productivity in construction, a sector that is struggling with profits and efficiency
Construction firms will now be told in advance about upcoming public projects that require higher levels of prefabrication