22 Feb 2019 17:14:00
Management Discussion and Analysis Yearly Ending 31 Dec 2018
Management Discussion and Analysis Company name : MFC-NICHADA THANI PROPERTY FUND Year : 2018 Quarter : Yearly Ending : 31-Dec-2018 Note : Ref : MFC PT. 006/2019 February 22, 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-Nichada Thani Property Fund (MNIT) ("the Fund"), would like to offer an explanation for the change of the Fund's performance for the year 2018 over 20% from the same period last year as follows; For the year 2018, the Fund had net profit from investments of Baht 5.40 million, increasing from Baht 2.96 million in the same period last year, or an increase of 82.68% which was mainly due to the followings, - During year 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. - For the year 2018 the Fund's total revenue was Baht 22.22 million compared with Baht 25.72 million from the same period last year, or a decrease of 13.60% due to the lower occupancy rate and rental rate compared with the same period last year as a result from the downturn in the economy and more competition which effected a decreasing in demand side. - The Fund's expense was Baht 14.31 million, a decrease from Baht 15.67 million from the same period last year or a decrease of 8.73%. Kindly be advised accordingly. Yours faithfully, (Mr. Sommate Rungkakulnuwat) Senior Vice President Property and Infrastructure Fund Department 02-649-2174, 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.