Two pieces of bad news today, better save your money and don't spend on frivolous things
If you have stocks, better unload everything
If you have property, take the first offer and get out now, give the agent higher comm to get rid of the hot potato
The agent won't be making anything else for the next year
Better take bus and MRT, stop taking taxis
Stop buying newspaper, read Today and My Paper free
Stop eating in restaurant, makan at hawker centre or cook at home and tah pau to office
Stop kio kway, stay at home and PCC
Or you can ask Narong to ass rim you
He did for me, must say he is still quite green but I'll let him practise
http://www.todayonline.com/Singapor...local-companies-delaying-bill-payment--report
SINGAPORE - Local payment performance has taken a turn for the worse, according to the Singapore Commercial Credit Bureau (SCCB), a unit of Dun & Bradstreet (D&B) Singapore.
Slow commercial payments - classified as when more than 50 per cent of total bills are paid later than the agreed credit terms - hit a record high of 53.8 per cent in the second quarter of the year, a sharp 11.9 percentage-point increase from the previous quarter.
On a yearly basis, slow payments increased by 0.7 percentage points, reversing last quarter's downward trend when payment delays hit a 12-month low.
In a statement released today, SCCB noted, "As global economic woes persist into the second quarter, more firms are running into problems with poor payment made to their suppliers".
At the same time, payment efficiency fell substantially by 7.3 percentage points from the previous quarter.
On a year-on-year basis, prompt payment - defined as when at least 90 per cent of total bills are paid within the agreed payment terms - dipped by 1.7 percentage points, registering a record low of 37.3 per cent.
Additionally, SCCB data showed that fewer firms are making partial payments compared to the preceding three quarters. Partial payments fell 4.6 percentage points to 8.9 per cent in the second quarter.
"The impact of a pull-back in economic growth over the last quarter was clearly evident from the significant increase in payment delays across all industries," said SCCB.
The retail sector fared the worst - payments made only after the agreed terms of payment stood at 62.4 per cent.
Manufacturing and services also fared poorly in payment performance - with slow payments at 57.8 per cent and 52.6 per cent respectively.
At 54.9 per cent, the construction sector also registered a higher proportion of payment delays compared to the preceding quarter.
The wholesale sector - traditionally the most timely when it comes to loan payments - experienced more than 50 per cent slow payment transactions for the first time since SCCB starting compiling payment data.
Owing to a deterioration in the wholesale trade segment, slow payments increased to 50.9 per cent.
"The positive correlation between weak market performance and poor payment behaviour is clear to us by now," said Audrey Chia, D&B Singapore's Chief Executive Officer. "We have been experiencing a downward trend in slow payment since Q4 2010. Slow payments are definitely on the rise." CHANNEL NEWSASIA
If you have stocks, better unload everything
If you have property, take the first offer and get out now, give the agent higher comm to get rid of the hot potato
The agent won't be making anything else for the next year
Better take bus and MRT, stop taking taxis
Stop buying newspaper, read Today and My Paper free
Stop eating in restaurant, makan at hawker centre or cook at home and tah pau to office
Stop kio kway, stay at home and PCC
Or you can ask Narong to ass rim you
He did for me, must say he is still quite green but I'll let him practise
http://www.todayonline.com/Singapor...local-companies-delaying-bill-payment--report
SINGAPORE - Local payment performance has taken a turn for the worse, according to the Singapore Commercial Credit Bureau (SCCB), a unit of Dun & Bradstreet (D&B) Singapore.
Slow commercial payments - classified as when more than 50 per cent of total bills are paid later than the agreed credit terms - hit a record high of 53.8 per cent in the second quarter of the year, a sharp 11.9 percentage-point increase from the previous quarter.
On a yearly basis, slow payments increased by 0.7 percentage points, reversing last quarter's downward trend when payment delays hit a 12-month low.
In a statement released today, SCCB noted, "As global economic woes persist into the second quarter, more firms are running into problems with poor payment made to their suppliers".
At the same time, payment efficiency fell substantially by 7.3 percentage points from the previous quarter.
On a year-on-year basis, prompt payment - defined as when at least 90 per cent of total bills are paid within the agreed payment terms - dipped by 1.7 percentage points, registering a record low of 37.3 per cent.
Additionally, SCCB data showed that fewer firms are making partial payments compared to the preceding three quarters. Partial payments fell 4.6 percentage points to 8.9 per cent in the second quarter.
"The impact of a pull-back in economic growth over the last quarter was clearly evident from the significant increase in payment delays across all industries," said SCCB.
The retail sector fared the worst - payments made only after the agreed terms of payment stood at 62.4 per cent.
Manufacturing and services also fared poorly in payment performance - with slow payments at 57.8 per cent and 52.6 per cent respectively.
At 54.9 per cent, the construction sector also registered a higher proportion of payment delays compared to the preceding quarter.
The wholesale sector - traditionally the most timely when it comes to loan payments - experienced more than 50 per cent slow payment transactions for the first time since SCCB starting compiling payment data.
Owing to a deterioration in the wholesale trade segment, slow payments increased to 50.9 per cent.
"The positive correlation between weak market performance and poor payment behaviour is clear to us by now," said Audrey Chia, D&B Singapore's Chief Executive Officer. "We have been experiencing a downward trend in slow payment since Q4 2010. Slow payments are definitely on the rise." CHANNEL NEWSASIA
