Swiber has placed itself into judicial management instead of liquidation. http://www.businesstimes.com.sg/companies-markets/swiber-withdraws-liquidation-move
What are the warning signs to look out for?
http://www.straitstimes.com/business/companies-markets/swibers-woes-warning-signs-were-there-for-some-time
On 8 July 2016, Swiber announced that the Group has outstanding letters of demand for an aggregate amount of US$4.76 million. It also announced that completion of its US$710 million offshore field project in West Africa will be delayed owing to "weakness in the oil and gas sector".
On 11 July 2016, London-based private equity firm AMTC did not subscribe to US$200 million preference shares in its wholly owned unit Swiber Investment.
On 25 July 2016, responding to queries from SGX, Swiber says it faces US$15.2 million in total for outstanding letters of demand.
Technically, the spike in trading volume from 11 July 2016 following by a steep-down trend in the share prices showed that someone is offloading the shares.
My 5 Important Trading Rules:
1. The trend is your friend
2. Do not let profits turn into losses
3. Let profits develop and cut losses short
4. Set a stop loss on each and every trade
5. Trade when technical and fundamentals agree
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