Malaysia: Shares end lower

Malaysian shares closed lower on Thursday, with the Kuala Lumpur Composite Index losing 2.02 points to 1,705.09.

Some 2.44 billion lots, valued at RM2.03 billion, were traded. Losers outnumbered gainers 456 to 419.

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Stocks to watch: Noble, UOB, CDL, Oxley

THE following stocks had announcements or developments that could affect their trading activity on Thursday.

Noble Group: Its chief aluminium trader in Europe, Erik Gundersen, will leave the Asian commodities merchant, according to a Reuters report which cited sources. News of his planned exit comes after two of his US counterparts, Scott Evans and Jeff Romanek, who handled copper, lead and zinc, left the company on Tuesday.

UOB: The bank has gained pace in the cash management business, with a record 42 per cent jump in revenue for the first half of this year from a year ago.

CDL Hospitality Trusts: It has officially opened Claymore Connect - formerly known as Orchard Hotel Shopping Arcade - following a renovation exercise, which started in December 2013.

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Stocks to watch: Ramba Energy, Sinocloud Group, Global Yellow Pages

THE following companies released material announcements either after Friday's close or before the start of trading on Monday morning.

Mandala Energy will invest up to US$179.6 million in a 35 per cent stake in the Lemang Production Sharing Contract (Lemang PSC) from Ramba Energy's subsidiary, PT Hexindo Gemilang Jaya.

Ramba Energy is an Indonesia-focused oil & gas exploration and production company. The Lemang block is located in the northernmost part of the South Sumatra basin, a proven region for oil and gas production.

The sum includes an upfront cash payment of US$26.25 million, sliding-scale future contingent payments based on certification of oil & gas reserves, partial carry for Ramba's share of three exploration wells; and a cash payment upon declaration of the first new exploration discovery.

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