27th Aug 2015 10:37
LONDON (Alliance News) - Symphony International Holdings Ltd, a London-listed company which invests in Asian consumer businesses, on Thursday said its net asset value was USD669.9 million at the end of June, a 5.9% drop from the USD711.7 million recorded at the end of March. NAV per share fell to USD1.27 from USD1.36 in the same period.
"The change in NAV and NAV per share was predominantly due to a weakening of the share prices of Minor International Pcl and IHH Healthcare Berhad and also the Thai baht against the US dollar during the quarter," the company said.
"Developments in Greece, a slowing Chinese economy, weaker commodity prices and an anticipated shift in US monetary policy dampened sentiment and had some impact on Asia stocks and currencies. We anticipate further volatility in financial markets, but the long-term outlook for Asia remains positive," the company added.
Shares in the company were up 4.1% at 0.630 pence on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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