Melania Trump Club

Sunday, June 3, 2012

Offshore services provider Swiber said on Monday its joint

Offshore services provider Swiber said on Monday its joint
venture firm, PT Rajawali Swiber Cakrawala, had won a contract
worth around $175 million from an oil major for offshore
engineering, procurement, construction and installation works in
Indonesia.    
      The scope of work for Swiber's consortium partner, PT SMOE
Indonesia, is worth about $63 million. PT SOME Indonesia is a
unit of Singapore's Sembcorp Marine.    
       
PT BERLIAN LAJU TANKER TBK     
Berlian Laju Tanker (BLT), Indonesia's largest oil and gas
shipping firm listed in Jakarta and Singapore, said on Friday
FTI Consulting had stepped down as an advisor for the company's
restructuring.    
      After announcing a debt standstill, BLT had contracted FTI
to oversee its restructuring in January as mandated by major
banks.   

DBS said its target price of S$0.43 is pegged at six times Kreuz's 2012 fiscal year earnings, which it said is at a "conservative" 10 percent discount to the firm's Singapore-listed small-cap offshore services peers.

The buoyant offshore market is likely to drive good order flows for Kreuz, leading to a compound annual growth rate of 15 percent for 2011-2013 fiscal year net profit, said DBS, adding that catalysts should come from new order wins in the near term.


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