Swiber: secured contracts worth US$109m from oil majors for projects in Thailand, Indonesia and Malaysia. They comprise various construction, chartering and subsea related projects. The contracts are scheduled to be completed by 3Q12. This brings total contracts secured YTD to US$295m, vs FY10 revenue of $466m.
Stock currently trades at 7.8X P/E and the Street largely has Buy ratings on the stock. TP range btwn $0.88 - $1.30.
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