SMF Vice President and Honorary Secretary's views on payment performance in the manufacturing sector

SMF Vice President and Honorary Secretary Mr Melvin Tan contributed his views to CNA on 2nd January 2024 on a report by the Singapore Commercial Credit Bureau (SCCB) that stated that payment performance in the manufacturing sector continues to deteriorate.

During the interview, he shared that the prevailing high-interest rates have impacted the mindset surrounding payments. Postponing payments to suppliers are seen as a strategic move to minimize interest expenses for businesses. The interplay of these factors highlights the complex dynamics influencing payment practices in the industry.

Please click the following link to watch the video – https://lnkd.in/g87ztFZQ

The SMF thanks Mr Marcus Tan from CNA for this media coverage.