MO R N I N G C O F F E E - Monday, May 7, 2012

U.S. and European market roundup
Stocks plunged on Wall Street after the government reported that hiring slowed sharply last month, the latest sign of weakness in the economy. The Standard & Poor's 500 index and the Nasdaq composite closed out their worst weeks of the year.

The poor jobs report confirmed what investors had feared for much of the week: that the U.S. economy was slowing. Investors were already on edge as France and Greece head into elections over the weekend. The Dow Jones industrial average closed down 1.27%, it was the secondworst weekly decline for the Dow this year. The S&P slipped 2.25%.

Crude for June delivery on the New York Mercantile Exchange fell as much as fell $4.05, or 3.95 percent, to settle at $98.49 a barrel.

-Reuters

European stocks posted their biggest weekly drop since March as Spain entered a recession, a report showed the U.S. economy added fewer workers than expected and investor's awaited elections in France and Greece this weekend. The U.K.'s FTSE 100 Index and France's CAC 40 lost 2.1 %. Germany's DAX dropped 2.6% for its biggest weekly retreat this year.

-Bloomberg

Corporate News Headlines
Mulpha to focus on property sector: is optimistic on the property sector's outlook this year and is disposing of its non-core assets to focus on the property business

Century eyes regional partnership with PepsiCo: PepsiCo, the food division of Pepsi-Cola (Thai) Trading Co Ltd, has invited his company to be a strategic partner in the latter's supply chain management in Thailand.

Lime to acquire stake in Norwegian Continental: signed a transaction agreement last Wednesday with North Energy ASA to secure 50% of the latter's interest in four concessions in Norwegian Continental Shelf (NCS) of Norway.

-SunBiz

Crest Builder JV to develop MRB's RM1.4bil project in KL: Malaysian Rubber Board (MRB) has awarded the RM1.4bil development on 2.2ha in Jalan Ampang, Kuala Lumpur

Sentoria plans RM1.5bil projects: the projects would be located in Selangor and within the company's Bukit Gambang Resort City (BGRC) development in Kuantan, Pahang.

RAM projecting 0.5%-1.1% corporate default rate: It said the subdued economic prospects on both the domestic and global fronts also accounted for a slightly more negative credit outlook.

-StarBiz

Healthy revenue outlook for KPJ Healthcare: hopes to reach beyond RM2 billion in revenue this year based on its encouraging performance during the last quarter 2011.

MMC Corp looking to relist Malakoff: MMC Corp Bhd, a construction, power and port group is planning another initial public offering (IPO) for its other subsidiary, Malakoff Corp Bhd. and, hoped to relist Malakoff by next year.

UMW targets O&G turnaround this year: is expecting higher contribution this year from the O&G unit's three operating jack-up drilling rigs, especially Naga 3 and its land
rigs.

-Btimes

Source:Jupiter Securities Research 7 May 2012