Chart of the Day: Singapore’s streak of improving payment performance ends in Q1

Slow payments comprised two-thirds of transactions.

Singapore’s three-quarter streak of improvement in payment performance has come to an abrupt halt, as the Singapore Commercial Credit Bureau (SCCB) reports that payment performance has shown strong signs of weakening in 1Q16.

According to the SCCB’s news release, prompt payments accounted for less than half of all payment transactions while slow payments made up more than two-thirds of all payment transactions for the first time since 3Q15.

Overall prompt payments dropped to its second lowest reading in one year when prompt payment statistics posted 39.04 percentage points (pp) in the same quarter last year.

Slow payments have similarly crumbled to its second highest reading in one year. QoQ, slow payments climbed 11.15 pp from 35.43% in 4Q15 to 46.58% in 1Q16. Compared to a year ago, slow payments dipped 4.83 pp from 51.41% in 1Q15 to 46.58% in 1Q16.

Meanwhile, partial payments inched up .84 pp QoQ for the fourth straight quarter from 11.46% in 4Q15 to 12.31% in 1Q16. On a YoY basis, partial payments rose slightly by 2.76 pp from 9.55% in 1Q15 to 12.31% in the same period this year.

From a sectoral perspective, QoQ slow payments have deteriorated across the construction, manufacturing, retail, services, and wholesale sectors. This is in contrast to 4Q15 when only one out of the five industries saw increased slow payments. On a YoY basis, payment delays have picked up across four of five sectors this quarter. Further, construction is the only sector to a YoY increase in slow payments.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

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