Asian suppliers brace for ‘insolvency storm’ from cash-strapped buyers amid rise in overdue payments

Suppliers and exporters in Asia are bracing for an increase in defaults among their buyers as coronavirus lockdown measures led to a surge in overdue payments by companies that trade with each other on credit, according to a recent survey.The survey of over 1,400 companies in China, India, Taiwan, Singapore, Indonesia and Hong Kong found 52 per cent of the value of invoices they had issued to their buyers had passed the payment-due date, a huge increase from 29.8 per cent in 2019.The annual …

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