News Detail

Date/Time
11 May 2018 17:43:00
Headline
Clarification the changing of Net Profit (Loss) in Profit and loss statement exceeding than 20% in compare to same period of previous year
Symbol
LUXF
Source
LUXF
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                Operating result

TT/IM 233/2018
                            11 May 2018

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 3 months end at March 
31st 2018 of the Fund showed that the increasing in net asset  from operation
total of Baht  36.112 million which decreased from Baht 58.542 million from the
same period in 2017.  In comparison, the financial statement for the period of 9
 months end at March
31st 2018 of the Fund showed that the increasing in net asset  from operation 
total of Baht  68.923 million
which decreased by Baht 86.310 million from the same period in 2017.
    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 23th 2018, Grand Asset Advisory Company Limited appraised the value of
the investment property of LUXF by adjusted Open Market Value at Bath 2,206
million.   While CBRE (Thailand) Co., Ltd appraised the value of the asset at
Baht 2,186 million as at  February 24th 2017 under the same condition and
valuation approach.
    LUXF, therefore, recorded such difference, which was resulted by the increasing
value, of Baht 20 million in the unrealized gain on investment in the financial
 statement for the period of 3 months end at March 31st 2018.
In addition, LUXF recorded such difference, which was resulted by the increasing
value, of Baht 19.988 million in the unrealized gain on investment in the
financial statement for the period of 9 months end at March 31st 2018.
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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