I am disappointed with Swiber's results, but this research article from DBS Vickers could convince me to stick with it.
Swiber’s FY09 results were below expectation, due to
weaker than expected margins. However, revenue is
expected to bounce back strongly in FY10, as most of
Swiber’s about US$788m worth of contracts in 2009 will
be executed in 2010. Buy into any post-results share price
weakness. Price catalysts would be contract wins from
various regions in Asia. Maintain Buy, TP: S$1.42.
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