14 Aug 2019 08:54:00
Management Discussion and Analysis Quarter 2 Ending 30 Jun 2019
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 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.