This article was sent out to our subscribers on 27 May 2013. As per closing price on 4 June 13 at $0.780, this trade is sitting on 9% profit.
Swiber Holdings Limited (SWBRF) is an integrated construction and support services provider that offers a range of offshore engineering, procurement, installation and construction (EPIC) services, and marine support solutions across the Pacific and the Middle East.
On 23 May 13 we had sold off our Swiber Holdings at $0.7200 for 15% profit. On 27 May 2013 webought back Swiber Holdings at $0.715.
Swiber is trading below book value, it has a price to book value of 0.70. Yet recent announcement showed that profit had doubled. We feel that market is wrong in pricing the stock so low.
Swiber had broken resistance at $0.710. This signals more momentum on the upside.