RECRUITMENT issues, Covid-related problems and project delays contributed to an annus horribilis for Singapore's Sembcorp Marine, which posted a S$1.171 billion (US$738.6 million) net loss for 2021 after making provisions totalling S$839 million. However, Sembmarine management are convinced the worst is now behind the company. "Because of the pandemic... the past two years have been among the most challenging years in recent memory," said Sembmarine chief executive Wong Weng Sun. "Our projects under execution faced shortages of skilled workers and supply chain constraints, which resulted in significant cost overruns." However, despite these operational challenges, the contractor last year completed four key projects and successfully delivered them to customers.
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