Home THE DAILY EDGE Business Swiber climbs to four-week high on $106m Myanmar contract
Swiber climbs to four-week high on $106m Myanmar contract
Written by Medeline Ting   
Thursday, 26 November 2009 10:45
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Swiber Holdings, a provider of offshore engineering services to the oil and gas industry, climbed to its highest level in four weeks after winning a $77 million contract in Myanmar.
 
The stock rose 4.6% to 91 cents as of 10:08 a.m. in Singapore, set for its highest close since Oct. 30. Swiber advanced 64% this year, compared with a 59% gain for the benchmark Straits Times Index.
 
The company said its first Myanmar contract involves the provision of offshore installation work for a gas pipeline. The six-month project is expected to begin in the first quarter of 2010, it said.
 
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Swiber climbs to four-week high on $106m Myanmar contract
Thursday, 26 November 2009