Sembmarine expects significant H2 loss with supply chain crunch

Singapore

SEMBCORP Marine (Sembmarine) expects to post "significant losses" in H2 ending Dec 31, 2021, potentially in the range of the S$647 million loss in the first six months of the year, the company announced in a bourse filing on Tuesday (Oct 19).

This is mainly due to the increased costs to complete its projects, as well as the losses arising from the added delays. Even though Sembmarine has made some headway in managing project completion delays, the pandemic continues to impact performance.