This represents a visible increase from just 15.13% in 2017.
The proportion of firms in Singapore which experienced a decline in risk standing surged to 21.36% in 2018 from 15.13% in the previous year as deepening economic uncertainties continue to weigh in on corporate performance, according to the Singapore Commercial Credit Bureau (SCCB).
Correspondingly, the proportion of local firms which saw an improvement in risk standing fell to 16.12% in 2018 from 23.70% in the previous year.
The proportion of firms which saw an unchanged status in financial strength increased moderately from 59.82% in 2017 to 63.76% in 2018. In the meantime, the proportion of firms with unchanged risk standing inched up slightly from 61.17% in 2017 to 62.52% in 2018.
“Whilst the fundamentals of local firms have remained relatively strong, the heightened credit risk outlook and market uncertainties have led to a deterioration of risk standing among firms.” Audrey Chia, SCCB CEO said in a statement.
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