News Detail

Date/Time
16 Aug 2017 17:24:00
Headline
Operating Result Yearly Ending 30 Jun 2017
Symbol
LUXF
Source
LUXF
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                Operating result


TT/IM 283/2017
                            16 August 2017

RE:    Clarification the changing of Net Profit (Loss) in Profit and loss statement
 exceeding than 20% in compare to same period of previous year

Attn:    President
    The Stock Exchange of Thailand

    Luxury Real Estate Investment Fund (LUXF) would like to clarify the changing of
Net Profit (Loss) in profit and loss statement that exceeded than 20% in
compare to the same period of previous year.

    In comparison, the financial statement for the period of 12 months from July 
1st 2016- June 30th 2017 of the Fund showed that the increasing in net asset
from operation total of Baht  156.05 million which increased by Baht 29.13
million from the same period in 2016.

    The main factor of such change is from the difference in unrealized gain (loss)
on investment which was resulted from change in asset value from annual asset
valuation within the same period of this year and the previous year. As at
February 24th 2017, CB Richard Ellis (Thailand) Co., Ltd appraised the value of
the investment property of LUXF by adjusted Open Market Value under the new
valuation method (By taking the existing lease contract into account as a
condition in generating income of the asset) at Bath 2,186 million.   While CB
Richard Ellis (Thailand) Co., Ltd. had appraised the value of the asset at Baht
2,144  million as at  February 24th 2016 under the same condition and valuation
approach.

    LUXF, therefore, recorded such difference, which was resulted by the increasing
value, of Baht 29.13 million in the unrealized gain on investment in the
financial statement for the period of 12 months from July 1st 2016- June 30 th
2017.  This resulted to the changing in net asset resulting from operations
exceeding than 20% from the same period of previous year.
  
Please notify accordingly



                              Regards


Phiphat Phisanuwongrak
             Authorized Signatory
______________________________________________________________________
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