Swiber Holdings Limited Company News

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Singapore Banks' Sour Loans In Focus As Oil Service Sector Stresses
Friday, February 10, 2017 Singapore's DBS Group Holdings and smaller rival United Overseas Bank are set to report their lowest quarterly profit in at least 2 years, hurt by loans provisions for the oil services sector.

Singapore's Marco Polo Marine Flags Doubt On Continuing As A Going Concern
Thursday, September 22, 2016 Marine logistics firm Marco Polo says it has substantial doubt about being able to continue as a going concern due to a cash crunch, as it sought noteholders' approval to defer redeeming bonds worth $37 million by three years.

Singapore's Marco Polo Marine Seeks To Delay Bond Payment
Wednesday, September 14, 2016 Singapore's Marco Polo, a marine logistics firm that counts oil and gas firms as clients, wants bond holders' nod to defer payment of notes worth $37 million, the latest oil-related firm in the city-state to show financial strain from crude's drop.

Asia Oil, Gas Layoffs Mount as Industry Recovery Stays Elusive
Thursday, September 08, 2016 The industry downturn continues to weigh on Asian oil and gas workers as redundancies continue to rise with no recovery in sight.

Swiber Names John Swinden as CEO, Hopeful of Completing Ongoing Projects
Monday, September 05, 2016 John Swinden takes over as CEO of Singapore's financially troubled Swiber Holdings as the firm's interim judicial managers (IJMs) are hopeful of completing ongoing projects.

Vallianz Updates on Swiber's Request for Payment of $63.5M in Arrears
Thursday, September 01, 2016 Vallianz Holdings givens an update on Swiber's request for payment of $63.5 million in outstanding amount owed to the financially troubled firm.

Swiber Mulls Legal Action Against Londoon-based Private Equity Firm AMTC
Friday, August 12, 2016 The interim judicial managers of Singapore's Swiber Holdings says the company is considering legal action against London-based private equity firm AMTC for breaching a preference share subscription deal.

Court Orders Payment Freeze on Swiber's Bank Guarantee for Indian Projects
Wednesday, August 10, 2016 An Indian court grants an interim order to freeze payment on bank guarantees posted by Singapore's financially troubled Swiber Holdings for its projects offshore India.

Penny Stock DBS Couldn't Save Roils Singapore Oil Hub, Banks
Monday, August 08, 2016 With a market value of $37 million, Swiber Holdings hardly seemed the kind of company to cause a ripple in the financial markets. Yet, the near-liquidation of the penny-stock firm has set off tremors in Singapore's banking and energy industries.

KPMG Takes Role as Judicial Manager of Singapore's Swiber Holdings
Thursday, August 04, 2016 KPMG takes on role as judicial manager for Singapore's troubled offshore oil and gas construction and support services provider Swiber Holdings.

Singapore's Troubled Swiber Holdings Opts for Judicial Management
Monday, August 01, 2016 Swiber Holdings, a troubled Singapore-based offshore construction and support services provider, opts for judicial management after filing application for liquidation.

Plunging Oil Prices Create Bad-Loan Pain For Singapore Banks
Monday, August 01, 2016 The plunge in oil prices is catching up with Singapore's three largest banks.

Singapore's Swiber Holdings to Wind Up Company, 3 Senior Executives Resign
Thursday, July 28, 2016 Swiber Holdings files an application to wind up the Singapore-based offshore construction and support services firm as 3 senior executives resigned.

Swiber's EPCIC Work in West Africa Delayed by Industry Slowdown
Friday, July 08, 2016 Swiber Holdings reports a delay in contract work for a $710 million offshore field development in West Africa which is being developed by a Houston-based company.

Swiber Names Yeo Chee Neng as CEO & President, Succeeds Francis Wong
Monday, June 20, 2016 Swiber Holdings names Yeo Chee Neng as CEO and president, succeeding Francis Wong who will now be the firm's vice chairman.

Swiber-Sime JV Commences Arbitration in India Over ONGC's B-193 Project
Thursday, June 09, 2016 Swiber and Sime Darby commences arbitration proceedings in India against Oil and Natural Gas Corp. over a process platform contract for the B-193 Project.

Swiber Bags $215M Contracts in Myanmar, Vietnam and Qatar
Tuesday, June 07, 2016 Swiber bags three contracts, worth $215 million, for work in Myanmar, Vietnam and Qatar.

Swiber Clinches $100M EPIC Contract from South Asian NOC
Monday, February 29, 2016 Swiber clinches $100 million engineering, procurement, installation and construction services contract from a national oil company in South Asia.

Swiber Completes Subsea Pipeline Installation Project Off South America
Thursday, February 04, 2016 Swiber Holdings completes a subsea pipeline installation project offshore South America.

China's Rail Company CRRC Acquires 13.9% Stake in Singapore's Vallianz
Monday, January 25, 2016 China's state-owned rail corporation CRRC invests $16.58 million to take a 13.9 percent interest in Singapore's offshore support vessel company Vallianz Holdings.

Swiber's Subsidiary Acquires 38% Stake in Nigeria's Deltatek Offshore
Wednesday, January 20, 2016 Singapore's Swiber Holdings acquires 38 percent interest in Nigeria's services provider Deltatek Offshore Limited.

Swiber's 3Q 2015 Net Profit at $4.3M, Up from a YOY Loss of $22.9M
Monday, November 16, 2015 Singapore's Swiber Holdings posts a net profit of $4.3 million in the third quarter of 2015, up from a loss of $22.9 million in the previous year.

Swiber's 2Q 2015 Revenue Falls 8.7% to $200.2M on Fewer Contracts
Monday, August 17, 2015 Swiber's revenue for the second quarter of 2015 falls 8.7 percent to $200.2 million on fewer contracts.

Swiber Secures Letter of Intent for $80M Pipeline Project in Latin America
Tuesday, August 04, 2015 Swiber secures letter of intent from "global energy company" to carry out an $80 million pipeline project in Latin America.

Oil Service Firms Jostle For India Orders Amid Global Spending Cuts
Thursday, July 09, 2015 Oilfield services firms are scrambling for contracts from India, which has emerged as a rare bright spot for the sector hardest hit by a slump in global crude oil prices.

Alam Swiber Wins Subsea Contact at Chevron's Prai Terminal in Malaysia
Wednesday, June 24, 2015 Alam Swiber Offshore wins $5.9 million contract for subsea pipeline installation works from Chevron at the Prai Terminal in Pulau Pinang, Malaysia.

Swiber's 1Q 2015 Revenue Falls to $164.9M, Down 17.3% YOY
Thursday, May 14, 2015 Swiber's revenue falls 17.3 percent in the first quarter of 2015 to $164.9 million, down from $199.5 million a year ago, while net profit slips to $$70,000 from $52.8 million.

Swiber Clinches $133M EPIC Contract from an Indian NOC
Wednesday, April 15, 2015 Swiber clinches a $133 million engineering, procurement, installation and construction services contract in India from a national oil company.

Swiber Lands $405.6M Contracts, Including a $333M EPCI Deal from Indian NOC
Thursday, March 26, 2015 Swiber lands $405.6 million contracts, including a $333 million deal for engineering, procurement, construction and installation services to a national oil company in India.

Swiber Secures $310M EPCIC Contract from South Asian NOC
Thursday, February 12, 2015 Swiber Holdings secures a $310 million engineering, procurement, construction, installation and commissioning contract from a South Asian national oil company.

As Oil Slides, Singapore Oilfield Service Firms Struggle to Refinance Debt
Tuesday, January 27, 2015 Ezra Holdings and Swiber Holdings are finding it tough to refinance debt maturing later this year due to the slump in crude prices, according to banking sources.

Swiber Records 9M 2014 Net Profit of $40.1M, Down 22.8% YOY
Thursday, November 13, 2014 Swiber's net profit declines 22.8 percent to $40.1 million for the first nine months of this year, compared to $51.9 million a year ago.

Vallianz to Acquire Stake in Indonesian OSV Company to Enter Local Market
Tuesday, November 11, 2014 Vallianz Holdings to acquire 49 percent interest in PT Swiber Berjaya for $17.5 million to gain entry into Indonesia's offshore support vessel market.

Swiber's 1H 2014 Net Profit Rises to $63M, Up 68.3% YOY
Wednesday, August 13, 2014 Swiber posted a 68.3 percent increase in net profit to $63 million in the first half of 2014, with the gains attributed largely to higher other operating income arising from the disposal of the firm's subsidiaries.

Swiber Secures $80M EPIC Contract for Subsea Work in Latin America
Monday, June 02, 2014 Swiber Holdings secures an $80 million engineering, procurement, installation and construction contract for subsea development work, including pipeline tie-in, in Latin America.

Alam Swiber to Work with Geoproduction, MMHE on EPCIC Jobs in Malaysia
Monday, May 05, 2014 Alam Maritime's unit Alam Swiber Offshore signs cooperation agreement with Geoproduction and Malaysia Marine and Heavy Engineering for engineering, procurement, construction, installation and commissioning projects in Malaysian waters.

Swiber Records Net Profit of $91M in 2013, Up 45% YOY
Friday, February 28, 2014 Swiber Holdings reports a 45.3 percent rise in net profit for 2013 to $90.9 million, compared to $62.5 million a year ago, with the increase due to strong revenue growth, especially from Southeast Asia.

Swiber Expands Shipyard Facilities at Tuas Yard in Singapore
Wednesday, February 12, 2014 Swiber Holdings expands existing shipyard facilities at Tuas, Singapore to meet increased demand in shipbuilding, repair and conversion services.

Swiber Bags $235M of Contracts for Work in Latin America, Southeast Asia
Monday, February 03, 2014 Swiber Holdings bags five contracts, worth $235 million, for work in Latin America and Southeast Asia.

SEA9 Offers to Acquire Subsea Solutions Provider Kreuz for $358.4M
Wednesday, November 06, 2013 SEA9, a unit of The Headland Private Equity Fund, makes a proposed offer to acquire integrated subsea solutions provider Kreuz Holdings for $358.4 million.

Swiber Posts 11.8 Percent Gain in Net Profit for 1H 2013
Wednesday, August 14, 2013 Swiber Holdings records an 11.8 percent increase in net profit to $37.4 million in the first half of 2013.

Swiber Wins Contracts Worth $435M
Monday, July 29, 2013 Swiber Holdings, an integrated offshore construction and support services provider, reports that it has won contracts worth $435 million.

Swiber 2Q 2012 Profit Doubles on Offshore Contract Wins
Wednesday, August 15, 2012 Swiber Holdings sees 2Q 2012 net profit skyrocket on offshore construction contract wins.

Swiber's Order Book Rockets to Record $1B
Thursday, September 22, 2011 Swiber announced that its order book has rocketed close to $1B, the highest in the Group's corporate history, after securing its single largest contract win this year for an EPIC pipeline project in South Asia.

Swiber Books First Myanmar Offshore Installation Project
Wednesday, November 25, 2009 Swiber signed a Letter of Award with a Myanmar oil and gas company worth $77 million. Under the LOA, Swiber will provide offshore installation works for 150 kilometers gas pipelines.

Swiber, Alam Maritim to Jointly Operate DLB Offshore Malaysia
Thursday, September 17, 2009 Swiber and Alam Maritim Resources will jointly own and operate a derrick lay barge for offshore installation projects in Malaysia.

Swiber Teams Up with Alam Maritim for Opportunities Offshore Malaysia
Thursday, August 20, 2009 Swiber is teaming up with Alam Maritim Resources Berhad, a main market Malaysian-listed established offshore marine transportation services provider, to tap offshore construction opportunities in the offshore market in Malaysia.

Swiber Raises Funds through Placement of 84MM New Shares
Friday, May 29, 2009 Swiber reported a 15.3% year-on-year rise in earnings to US $11.9 million, and the company intends to earn additional funds through a private placement by issuing up to 84 million new shares.

Swiber Completes Sale-Leaseback of Swiber Concorde Pipelay Vessel
Friday, March 13, 2009 Swiber announced the completion of sale and leaseback of its 248-man capacity pipelay barge, Swiber Concorde, which was delivered on February 28, 2009, to Tioman Offshore. The barge is preparing for its first pipelay job in Southeast Asia.

Swiber Delivers 2 Construction Vessels to Asian Projects
Friday, March 13, 2009 Swiber Holdings Limited announced that two offshore construction vessels have already been successfully delivered to them and are currently deployed to various offshore locations in Asia.