9th Aug 2018 12:26
LONDON (Alliance News) - Symphony International Holdings Ltd said Thursday that its net asset value per share dropped by 25% since the end of March.
The company's net asset value per shares at June 30 was 91 US cents, down from 121 cents at the end of its first quarter in March.
The company, which invests in healthcare and lifestyle businesses in the Asia-Pacific region, said the fall in net asset value was mainly due to a decline in the share price of one of its assets and "a weakening of the Thai baht during the quarter".
"The markets faced headwinds from ongoing trade tensions, higher global interest rates, and a strong US dollar," Director Anil Thadani said.
He added: "During the first half of 2018, we have made further progress in enhancing the value of our investment portfolio by working with our partners on completing existing projects and initiating new projects and acquisitions."
Symphony shares were trading down 2.7% at USD0.71 each.
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