Swiber: Could see positive sentiments as strong order wins continue, with Co. announcing a US$273m Gulf of Mexico contract. The latest contract, entails offshore construction works for the procurement, transportation and installation of pipeline in the Gulf of Mexico. Work for the project will start immediately this year and into 2013.
Result beings Ytd Orderwins to US$525m, and places current book at an approximate US$1.3b vs FY11 rev of US$654.5m, underpinning earnings visibility till 2014.
CIMB maintains O/p with $0.79 TP.
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