Swiber has dropped 8% in seven trading days, from an intraday high of $0.685 on 3 Apr to $0.630 on 12 Apr. Contrast this with its 57.5% owned subsidiary Kreuz which closed at $0.530, near its all time closing high of $0.535. (Based on Chart 1 below, Swiber was nowhere near the recent high of around $0.720 on 27 Feb which was briefly touched upon after its release of 4QFY12 results.)
Chart 1: Swiber dropped five consecutive days. Supports 0.620 -0.630 / 0.610
Source: CIMB itrade complimentary chart (12 Apr 13)
Swiber’s 4QFY12 results update
Swiber reported a good set of results on 27 Feb 2013 where it achieved record earnings and revenue since listing. On the whole, FY12 revenue ...
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