News Detail

Date/Time
13 Nov 2018 17:08:00
Headline
Management Discussion and Analysis Quarter 3 Ending 30 Sep 2018
Symbol
MNIT
Source
MNIT
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                Management Discussion and Analysis

Company name                             : MFC-NICHADA THANI PROPERTY FUND
Year                                     : 2018
Quarter                                  : Quarter 3
Ending                                   : 30-Sep-2018
Note                                     :
Re: Clarification for the change of Fund's performance over 20%

MFC Asset Management Public Company Limited, as the Management Company of  
MFC-Nichada Thani Property Fund (MNIT) ("the Fund"), would like to offer an
explanation for the change of the Fund's performance for quarter 3 ended 30
September 2018 over 20% from  the same period last year as follows;

For quarter 3 ended 30 September 2018, the Fund had net profit from investments 
of Baht 2.96 million, increasing from Baht 1.62 million in the same period last
year, or an increase of 82.50% which was mainly due to during the period the
Fund has adjusted down estimated property tax for year 2017 and 2018.

- the Fund's total revenue was Baht 5.85 million compared with Baht 5.52 million
 from the same period last year, or an increase of 5.94%.

- The Fund's expense was Baht 2.89 million, a decrease from Baht 3.89 million 
from the same period last year or a decrease of 25.69% which due from an
adjusted down estimated property tax as mentioned.

For the nine month period ended 30 September 2018, the Fund had net profit from 
investments of Baht 2.83 million, increasing from Baht 2.39 million in the same
period last year, or an increase of 18.28% which was mainly due to the
followings.

- During 9-months of 2018 the Fund has adjusted the fair value of the 
properties. As a result, the Fund has recognized an unrealized loss on
investment of Baht 2.51 million whereas in the same period last year the Fund
has recognized an unrealized loss of Baht 7.09 million.

- the Fund's total revenue was Baht 16.26 million compared with Baht 21.11 
million from the same period last year, or a decrease of 23.0% which was due to
the lower occupancy rate and rental rate compared with the same period last
year.

- The Fund's expense was Baht 10.92 million, a decrease from Baht 11.63 million 
from the same period last year or a decrease of 6.13% which due from an adjusted
 down estimated property tax as mentioned.
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