29th Oct 2015 10:20
LONDON (Alliance News) - Symphony International Holdings Ltd on Thursday said its net asset value fell in the three months to the end of September, predominantly due to the weakening of share price of Minor International Pcl and a depreciation of the Malaysian ringgit and Thai baht versus the dollar during the quarter
The company, which invests in consumer-related businesses, said its NAV was USD613.2 million at the end of September. NAV per share was USD1.1611 at the same stage. That compares against NAV and NAV per share of USD669.9 million and USD1.2685 at the end of June.
"At the beginning of the fourth quarter, there was a recovery in the value of Symphony's listed investments that was driven by increases in the share prices of MINT and IHH. We remain confident that the long-term fundamentals for growth in Asian consumerism will benefit Symphony's portfolio in the long run. Symphony continues to support the management teams of its portfolio companies and also evaluate opportunities to expand its portfolio," the company said.
Shares in Symphony International were up 0.6% at USD0.640 on Thursday morning.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Symphony