News Detail

Date/Time
14 Aug 2019 08:54:00
Headline
Management Discussion and Analysis Quarter 2 Ending 30 Jun 2019
Symbol
M-PAT
Source
M-PAT
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                Management Discussion and Analysis

Company name                             : MFC PATONG HERITAGE PROPERTY FUND
Year                                     : 2019
Quarter                                  : Quarter 2
Ending                                   : 30-Jun-2019
Note                                     :
Ref: MFC PT. 82/2019

August 14, 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 change of the Fund's performance for quarter 2 ended 30 June
 2019 over 20% from  the same period last year as follows;

For quarter 2 ended 30 June 2019, the Fund had net loss from investments of Baht
11.40 million, decreasing from Baht 17.37 million in the same period last year,
 or a decrease of 34.33%. The main reason was due to the followings.

- During quarter 2 ended 30 June 2019, the Fund has revalued the market value of
property, as a result, the Fund has recognized an unrealized loss on properties
revaluation of Baht 27.0 million whereas in the same period last year the Fund
has recognized an unrealized loss on revaluation of Baht 3.0 million.

- The Fund had total revenue of Baht 17.18 million, compared with Baht 21.87 
million from the same period last year, or a decrease of 21.44% because the
lease agreement of the Fund was ended on 11 June 2019, resulted in a decrease in
 revenue.

- The Fund's expenses was Baht 1.58 million compared with Baht 1.49 million in 
the same period last year, or an increase of 6.31%.

For six-month period ended 30 June 2019, the Fund had net profit from 
investments of Baht 8.86 million, decreasing from Baht 37.41 million in the same
period last year, or a decrease of 76.33%. The main reason was due to the
adjusted fair value as mentioned above.

- The Fund had total revenue of Baht 38.95 million, compared with Baht 43.36 
million from the same period last year, or a decrease of 10.18% because the
lease agreement of the Fund was ended on 11 June 2019.

- The Fund's expenses was Baht 3.09 million compared with Baht 2.92 million in 
the same period last year, or  an increase of 5.86%.


Kindly be informed accordingly.

Yours faithfully,


(Ms. Natree Panassutrakorn)
Executive Vice President





Property and Infrastructure Fund Department
02-649-2182
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