SINGAPORE: Shares of Singapore offshore services firm Swiber Holdings Ltd rose as much as 4 percent on Wednesday after the company won two orders worth a total of $102 million.
By 0243 GMT, shares of Swiber were 3 percent higher at S$0.515 after trading in the shares was suspended on Tuesday ahead of the announcement of the orders.
In a statement late on Tuesday, the company said the contracts were for offshore construction projects involving pipeline and subsea installation works in Southeast Asia.
Swiber has secured $758 million worth of contracts so far this year, bringing its order book to more than $1 billion.
"The order wins are encouraging, especially given the recent uncertainties surrounding the macroeconomic outlook," a local dealer said on Wednesday.
Both projects are due to start immediately, with one project to be completed by the fourth quarter and the other to be completed by the second quarter of 2013, Swiber said.
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