22 Feb 2019 13:27:00
Management Discussion and Analysis Yearly Ending 31 Dec 2018
Management Discussion and Analysis Company name : MFC PATONG HERITAGE PROPERTY FUND Year : 2018 Quarter : Yearly Ending : 31-Dec-2018 Note : Ref : MFC PT. 005/2019 February 21, 2019 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 year 2018 over 20% from the year 2017 as follow, In 2018 the Fund had net profit of Baht 79.07 million decreased from Baht 101.47 million in 2017 or a decrease of 22.07%. The main reason was that during the year 2018 the Fund had adjusted the fair value of the property as per the reviewed of appraisal report dated 1 April 2018. As a result, the Fund had recognized an unrealized loss on properties revaluation of Baht 3.00 million, whereas in 2017 the Fund had recognized an unrealized gain on properties valuation of Baht 20.0 million. Kindly be advised accordingly. Yours faithfully, (Mr. Sommate Rungkakulnuwat) Senior Vice President Property and Infrastructure Fund Department Tel. 02-649-2173 This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.