Swiber faces claims of $4.76m

“The group has outstanding letters of demand for an aggregate amount of $4.76m. All the claims are trade in nature,” Singapore-listed Swiber announced.

Swiber said it is in consultation with its solicitors and will evaluate the merits of each claim, and will “vigorously defend any claims that are without proper basis”, adding that it has sufficient resources to satisfy all claims.

The details of the claims were not disclosed by Swiber, whose principal business is in engineering, procurement, installation and construction (EPIC) services for mainly shallow water oil and gas field projects.