Hotel and Restaurant business boosts Symphony’s NAV

Symphony International Holdings Limited has published Q4 figures and full year results for the year ended 31 December 2014. At 31 December 2014 the net asset value was US$705,412,021 and NAV per share was US$1.3473. This compares to NAV and NAV per share of US$767,400,667 and US$1.4657, respectively, at 30 September 2014 and represents a 14.6% increase for year as a whole.

In the fourth quarter, the change in NAV and NAV per share was predominantly due to a decrease in the share prices of IHH Healthcare Berhad and (“IHH”) and Minor International Pcl (“MINT”) along with a weakening of Asian currencies against the US Dollar during the quarter.

Over the year the value of their investment in MINT, which owns 45 hotels, manages 74 others, owns and operates 1708 restaurants (including franchises of Dairy Queen and Burger King) and has a contract manufacturing and an international lifestyle consumer brand distribution business in Thailand, rose by $114.6m. The value of their investment in IHH, which is one of the largest healthcare providers in the world by market capitalisation and has 37 hospitals worldwide, rose by $10.9m.

SIHL : Hotel and Restaurant business boosts Symphony’s NAV