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Malaysia's Zelan shares fall after RM771m UAE job axed
Court orders disclosure of Apple-HTC deal details
Malaysian equities off on weaker note

Malaysia's Zelan shares fall after RM771m UAE job axed

Posted: 22 Nov 2012 06:35 PM PST

Published: Friday November 23, 2012 MYT 10:36:00 AM

KUALA LUMPUR: Shares of Zelan Bhd fell to a low of 30.5 sen on Friday after its UAE contract for the RM771mil property project was terminated.

At 10.18am, it was down 2.5 sen to 31 sen. There were 1.97 million shares done at prices ranging from 30.5 sen to 32.5 sen.

The FBM KLCI fell 4.37 points to 1,614.18. Turnover was 163.51 million shares valued at RM140.14mil. There were 119 gainers, 209 losers and 225 counters unchanged.

Zeelan's Meena Plaza project in Abu Dhabi, ran into trouble after project owner Meena Holdings LLC's decided to end the contract.

Its unit Zelan Holdings (M) Sdn Bhd's Abu Dhabi branch received a letter dated Nov 21, 2012 from Meena Holdings LLC which gave a 14-day notice to terminate the contract and to liquidate the performance bond.

In March 2008, Zelan had announced that the contract value to build the Meena Plaza mixed-use development was 925.3 million dirhams (RM771mil).

Court orders disclosure of Apple-HTC deal details

Posted: 22 Nov 2012 06:04 PM PST

SAN FRANCISCO: A US judge has ordered Apple Inc to disclose to rival Samsung Electronics details of a legal settlement the iPhone maker reached with Taiwan's HTC Corp, including terms of a 10-year patents licensing agreement.

The South Korean electronics giant had earlier filed a motion to compel its US rival with whom it is waging a bitter legal battle over mobile patents across several countries to reveal details of the settlement that was reached on Nov 10 with HTC but which have been kept under wraps.

In August, the iPhone maker won a US$1.05bil verdict against Samsung after a US jury found that certain Samsung gadgets violated Apple's software and design patents.

Now, legal experts say the question of which patents are covered by the Apple-HTC settlement, and licensing details, could be instrumental in Samsung's efforts to thwart Apple's subsequent quest for a permanent sales ban on its products.

Samsung has argued it is "almost certain" that the HTC deal covers some of the same patents involved in its own litigation with Apple.

The court on Wednesday ordered Apple to produce a full copy of the settlement agreement "without delay", subject to an Attorneys-Eyes-Only designation.

Representatives for the US company could not immediately be reached for comment.

Samsung also requested the California court to add three newly released Apple products the iPod Touch 5, the iPad 4 and the iPad mini to the list of devices that it claims to have infringed on some of its patents, according to court documents.

The settlement of Apple and HTC ended their worldwide litigation and brought to a close one of the first major flare-ups in the global smartphone patent wars.

Apple first sued HTC in 2010, setting in motion a legal conflagration that has since circled the globe and engulfed the biggest names in mobile technology, from Samsung to Google Inc's Motorola Mobility unit. - Reuters

Malaysian equities off on weaker note

Posted: 22 Nov 2012 06:03 PM PST

KUALA LUMPUR: Malaysia's blue chips fell in early trade on Friday, dragged down by some mild selling of Petronas related counters and MAHB, through the broader market was mixed.

At 9.20am, the FBM KLCI was down 0.76 of a point to 1,617.79. Turnover was 48 million shares valued at RM21.31mil. There were 75 gainers, 67 losers and 130 counters unchanged.

Maybank KE Equities Research said after the KLCI fell 4.42 points to close at 1,618.55 on Thursday, the resistance level of 1,618 and 1,640 would cap market gains, whilst weaker support areas were at 1,600 and 1,614.

"The KLCI made an all-time high of 1,679.37 on 29 Oct 2012 with a Bearish Engulfing Pattern for its weekly chart in early November. As such, all rebound rallies should be sold.

"Despite the European markets' minor upbeat tone; expect the local index to remain weak ahead of the weekend. We sighted the dreaded SMA 'Dead Cross' signal on Wednesday. Sell as we believe that the index is surely headed towards the 1,597 and 1,574 downside target areas," it said.

Petronas Dagangan fell the most, down 48 sen to RM22 with 7,600 shares done while Petronas Chemical shed three sen to RM6.28.

FGV lost five sen to RM4.62, Aeon and Aeon Credit two sen each to Rm12.18 and RM12.50 while MAHB was down two sen to RM5.51.

Hard-disk maker JCY was the most active with 6.64 million shares done, slipping one sen to 69 sen.

Consumer stocks recovered some ground, with Carlsberg and Dutch Lady adding 18 sen each to RM12.76 and RM46.18. SP Setia gained five sen to RM3.45 and IBhd four sen to RM1.40.

Kredit: www.thestar.com.my

Khamis, 22 November 2012