Sembmarine expects significant H2 loss with supply chain crunch
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
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.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Vietnam acts fast to shield firms, households from fuel price surge
Beijing’s calculated silence on the Iran war
S-E Asia tourism takes hit from Middle East crisis, but intra-regional travel could spell hope
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
