Sembcorp Marine president and chief executive Wong Weng Sun blamed the severe challenges faced by the shipyard group in the wake of Covid-19 for yet another large loss.

Higher wage costs and project deferments caused by labour shortages took a big toll on the shipyard group’s bottom line.

On Thursday, Sembcorp Marine revealed a net loss of SGD 647m ($478m) on revenue of SGD 844m for the first half of its 2021 financial year.