News Detail

                Management Discussion and Analysis

Company name                             : MFC PATONG HERITAGE PROPERTY FUND
Year                                     : 2018
Quarter                                  : Half year
Ending                                   : 30-Jun-2018
Note                                     :

Ref: MFC PT. 045/2018

August 23, 2018
 
Director and Manager    
The Stock Exchange of Thailand
Dear Sir,

Re: Clarification for the change of Fund's performance over 20%.

MFC Asset Management Public Company Limited, as the Management Company of MFC 
Patong Heritage Property Fund (M-PAT) ("the Fund"), would like to offer an
explanation for the reason of change in the Fund's performance for the six-month
 period ended 30 June 2018 over 20% from the same period of 2017 as follow,

For the six-month period ended 30 June 2018 the Fund had net profit of Baht 
37.41 million decreased from Baht 60.33 million in the same period of 2017 or a
decrease of 37.99%. The main reason was that during the six-month period ended
30 June 2018 the Fund had adjusted the fair value of the property as per the
appraisal report dated 1 April 2018.   As a result, the Fund had recognized an
unrealized loss on properties revaluation of Baht 3.0 million whereas in the
same period of 2017 the Fund had recognized an unrealized gain on properties
revaluation of Baht 20.0 million.




Kindly be advised accordingly.

Yours faithfully,



(Mr. Sommate Rungkakulnuwat)
Senior Vice President









Property and Infrastructure Fund Department
Tel. 02-649-2189, 2173
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