Singapore Hot Stocks swiber jumps on contract wins

SINGAPORE: Shares of Singapore offshore services firm Swiber Holdings jumped as much as 6 percent on Friday after the firm announced it had won contracts worth around $69 million, bringing its order book past $1 billion.

At 0131 GMT, Swibers shares were up 4 percent at S$0.52 on a volume of 13.9 million shares, 2.6 times the average daily volume in the last 30 days. The broader Straits Times Index was 0.3 percent lower.

The contracts, awarded by offshore construction companies and oil majors, involve pipeline transportation and installation, chartering of marine vessel, as well as subsea installation, Swiber said in a statement.