Companies (facing cashflow problems?) are delaying payments. This in turn causes cashflow problems for others.
Payment performance of local firms “deteriorated strongly” year-on-year in the third quarter of 2016, said the Singapore Commercial Credit Bureau (SCCB) in data released on Monday (Oct 3).
Prompt payments declined to about 42.18 per cent of total payment transactions in the third quarter, compared to a year ago when 51.05 per cent paid their bills on time. Slow payments also rose, accounting for more than two-fifths of payment transactions in the same period.
Residential property prices remain weakish
Singapore home prices dropped by the most in more than seven years as developers offered discounts amid signals from the government that it won’t roll back property curbs initiated in 2009.
Home prices fall for 12th quarter as curbs stay, dropping 1.5%
Residential values are down 11% from peak in September 2013
Ho ho Ho if u bought a condo in the last few years,
But real wages keep rising
Salaries in Singapore are set to rise 4 per cent next year, compared to an average of 5.9 per cent across the Asia-Pacific region, according to a survey released on Tuesday (Oct 4).
After taking into account Singapore’s inflation forecast of 0.8 per cent, salaries in the city-state are expected to rise 3.2 per cent, the survey by professional services company Willis Towers Watson found.