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Singapore firm inks massive Myanmar gas deal
A Singaporean marine engineering company has signed a multimillion dollar contract with a Myanmar firm, and will lay gas pipelines off the shores of the military-ruled nation next year. Singapore-based firm Swiber Holdings will construct 150 kilometres of gas pipelines after signing a 77 million US dollar contract with "a Myanmar oil and gas company," the company said in a statement Friday. The statement did not give the name of the Myanmar company involved. The project will start in the first quarter of 2010 and will last six months, it added. "We are honoured and excited to kick-start the offshore installation job in Myanmar," said Raymond Goh, group chief executive officer of Swiber Holdings. The agreement comes as foreign investment in military-ruled nation soared more than fivefold to reach almost one billion dollars last year, official statistics showed. Total foreign investment in Myanmar increased from 172.72 million dollars in the 2007-2008 fiscal year to 985 million dollars in 2008-2009, the Ministry of National Planning and Economic Development said earlier this year. Myanmar has been ruled by the military since 1962, and sanctions by the United States and Europe coupled with fiscal mismanagement during decades of military rule have battered its economy.
http://sg.biz.yahoo.com/091127/1/4s1uw.html
Swiber secures maiden Myanmar offshore
installation project worth US$77.0 million; boosts
order book
http://swiber.listedcompany.com/newsroom/20091125_203718_AK3_A6D6AB31AD9DF04B4825767900404F41.1.pdf
risktaker ( Date: 26-Nov-2009 09:14) Posted:
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dealer0168 ( Date: 24-Nov-2009 20:37) Posted:
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More contract news will be good for it. Without it, quite difficult to move it further.
qwertyuiop00 ( Date: 24-Nov-2009 20:18) Posted:
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time for an explosive rally for this share? already consolidated at 0.80-0.96 lvl for the last 5 months, and its now lagging way way behind ezra...
starting to lose hope already after holding on to it for so long =/
risktaker ( Date: 24-Nov-2009 08:57) Posted:
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Someone is really interested in this baby :)
Get Ready for some Love - Collection Start for me TOO !
Swiber
3 mths ended Sep 2009__ Turnover (S$M)__$135.75__QonQ -26.2%
3 mths ended Sep 2009__ Net Profit (S$M)__$20.43__QonQ -9.9%
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_A11E7DA38EB46E704825766D003BAC5D/$file/Swiber_3Q_FY2009_Final.pdf?openelement
I also invested this one, really dispointed with it. it is like coscorp,NOL.
when market up,up 1or 2 cents, when market down, down more than market.
this one like rubbish.
des_khor ( Date: 16-Nov-2009 17:19) Posted:
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wealth ( Date: 10-Nov-2009 09:53) Posted:
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Buying Swiber is like playing big or small. If they manage to secure big contract then win big or else it will keep going down. Recent low (5 Oct) was 79c - has recovered somewhat but going forward $ dependent on contract win (very difficult under present economy). Every 3 mths they raise fund, Jun 09 ($74m), Oct 09 ($100m) - bad sign to pay for running costs, so very high risk co. Just my personal opinion, not an expert.
wealth ( Date: 10-Nov-2009 09:53) Posted:
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