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SWIBER HOLDINGS LIMITED

Swiber Holdings Limited, through its subsidiaries, provides integrated offshore construction, support, and drilling services for offshore oil and gas engineering and construction companies. Its offshore construction services include transportation and installation of fixed offshore platforms; transportation and installation of subsea pipelines; floating production systems; subsea field commissioning; FPSO, FSO, and CALM Buoy mooring installation; vessel life extension; platform construction; and project management services. The company offshore support services comprise marine transportation, charter of offshore marine support vessels, provision of diving support vessels, shipyard facilities, ship repair and maintenance, shipbuilding, conceptual and feasibility, front end engineering design, mooring systems design, basic and detailed engineering, start up and commissioning, and operation and maintenance services. Its offshore drilling services include supply of rig and crew; and drilling consulting services in the areas of offshore project and operations management, engineering for modifications and rig upgrades, and various aspects of drilling operations. The company also owns and charters its offshore support vessels. As of March 31, 2009, it operated a fleet of 28 offshore and 8 construction vessels. Swiber Holdings Limited has operations in Singapore, Malaysia, Indonesia, India, Brunei, the Republic of Seychelles, Saudi Arabia, Thailand, and China. The company was founded in 1996 and is headquartered in Singapore, Singapore.

Swiber provides a full suite of Offshore Construction Services encompassing Engineering, Procurement, Construction, Installation and (EPIC) services. Through our team of highly experienced engineers and an extensive fleet of modern support and construction vessels, we deliver integrated and innovative solutions to a wide and diverse range of projects, even in the most challenging offshore environments.

  • Transportation and installation of fixed offshore platforms
  • Transportation and installation of subsea pipelines
  • Floating Production Systems (FPS)
  • Subsea field commissioning
  • FPSO, FSO, CALM Buoy
  • Mooring installation services
  • Vessel life extension
  • Platform construction
  • Project management

Swiber stock price during March 2009 was low as $0.255, after this it has rallied up to the highest during April 2010 at $1.27. From here, the stock price dropped to 38.2% retracement level at $0.88 during June 2010. From the chart, it shows during June 2010 to August 2010, the stock has been trading in between 23.6%($1.03) to 38.2% retracement level ($0.88). From the chart, it has the possibility to drop to 38.2% retracement level ($0.88), but there is no confirm signal that the stock will be in long term downtrend.

As from the chart, latest current high is higher than the previous high, and the chart show no strong sign of confirmation for the downtrend soon. So, it is not so sure where is the near term target price for Swiber. But, if it has reached the 38.2% retracement level ($0.88) and break this line, it is more confirmed that the stock will be in longer term of downtrend. And if this price ($0.88) is break, the next support line will be in 50% retracement level at $0.76. Will it reach this price? Or will it rebound back soon after touching $0.88? Take note for the economy double dip possibility in coming quarters!

GROUP FINANCIAL HIGHLIGHTS (Sources from Swiber website)

PROFIT AND LOSS STATEMENT

(Sources from Swiber website)

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