Market News - 14 May 2009

U.S. and European Market Roundup

• The DJIA down 184.22 points to 8,284.89 points.
• Stocks retreated more than 2.0% on Wednesday and bond prices rose after two reports suggested the economy is not bouncing back as quickly as investors hoped.
• Over in Europe, shares fell for the third straight session, pulled down mainly by financials and miners while defensive sectors such as food and pharma eked out gains.

Macro and Corporate New

• Scomi Engineering registered an improved pretax profit of RM19.9 mln for the first quarter ended March 31 compared to RM10.6 mln posted in the same quarter of 2008.
• Mudajaya Group yesterday reported higher revenue and profit, which it attributed to an increase in business activity and profit margin. 
• Tanjung Offshore (TGOFF) has taken delivery of its 11th offshore support vessel, the MV Tanjung Gelang, which has received a letter of award (LoA) from Carigali-PTTEPI Operating Company Sdn Bhd (CPOC)  for total charter rates of RM30 mln.