Asia

Swiber sets records

Singapore: Redolent of booming offshore scene in Southeast Asia Singapore-listed Swiber Holdings announced yesterday it had notched up a record revenue and net profit for 2012, the highest since its listing in 2006.

Net profit leapt 48.3% to $62.5m, while revenue increased 45.5%to $952.2m led by deals in South America and Southeast Asia.

"We continue to be bullish about Asia, in particular Southeast Asia, a region that Swiber has a deep knowledge of, coupled with a proven track record. As of February this year, Swiber's order book stands at around $1.35 billion, with a significant portion to be carried out in Asia," Swiber's ceo and president, Francis Wong, said.

Swiber also revealed yesterday details of its first offshore contract deals for this year worth a total of $153m and involving transportation and installation of pipelines and offshore structures in Southeast Asia.  [28/02/13]

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