SINGAPORE (July 2): Payment performance of local firms deteriorated in 2Q19 after an improvement in 1Q19.

Prompt payments accounted for less than half of total payment transactions while slow payments accounted for more than one-third of total payment transactions, according to Singapore Commercial Credit Bureau (SCCB).

Quarter on quarter, prompt payments fell by 2.26 percentage points to 49.44% in 2Q19 from 51.70% in 1Q19. Year on year, prompt payments decreased by 0.11 percentage points from 49.55% in 2Q18 to 49.44% in 2Q19.

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