Swiber Holdings (AK3.SG) +2.9% at almost 6-week high of $1.05 in active trade, according to Dow Jones.

“We think the revival of trading interest in Swiber could be related to the company bidding for an array of projects worth a total of US$5 billion ($6.7 billion),” says CIMB, which has Outperform call with $1.42 target.

Research house notes provider of construction services to offshore oil & gas industry taking part in Saudi Aramco’s latest gas development project, expects to announce several new contracts in 4Q10.

Says value of new contracts over next 12 months could be more than US$400 million clinched annually over 2007-2008. Swiber’s latest orderbook at US$915 million.

Immediate resistance at July peak of $1.08.