Tuesday, May 24, 2011


Kreuz: secured contracts worth US$44m for various subsea works to be performed in Indonesia and Thailand. US$32m is attributed to parent, Swiber, with the remainder from a third-party customer. The latest orders come less than a month after co announced US$24.8m contract wins and suggests continued momentum in the offshore services space.
Stock currently trades at 11.2X P/E. DnBNOR has a Buy rating with TP $0.50.

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