Half a year ago, Swiber has been a much touted stock as its order books swelled to US$1b which is an all time record. Nevertheless, its share price failed to impress with a 2.0% year to date (“YTD”) loss vis-à-vis STI’s 8.5% gain. Notwithstanding the underperformance, Swiber looks interesting due to the reasons below. Excellent macro conditions According to the International Energy Agency, it postulated that demand for oil will rise 260,000 barrels more than its previous forecast to 88.8 million barrels a day next year. Furthermore, based on Infield Systems’ latest offshore fixed platform data, there is likely to […]