SG firms post fewer late payments in 2024 despite stricter terms

Payment delays decreased by 6 percentage points.

Payment delays from companies in Singapore improved marginally in 2024 compared to the previous year, according to Coface.

Despite tighter payment terms, delays in Singapore decreased by 6 percentage points, reflecting stronger payment discipline.

Across APAC, the most commonly cited reasons for offering payment terms were market practices (31%), market competition (28%), and liquidity crunch. In Singapore, companies cited customers’ lack of liquidity as the top reason, pointing to persistent cash flow challenges.

Thailand raised the greatest concern in the region, with late payments rising by 6 percentage points despite a generous extension in payment terms.

Overall, companies across APAC reported a significant improvement in payment activity, with the share of late payments falling to 49%, down from 60% a year earlier.

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