News Detail

Date/Time
11 Nov 2019 17:13:00
Headline
Management Discussion and Analysis Quarter 3 Ending 30 Sep 2019
Symbol
MNIT
Source
MNIT
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                Management Discussion and Analysis

Company name                             : MFC-NICHADA THANI PROPERTY FUND
Year                                     : 2019
Quarter                                  : Quarter 3
Ending                                   : 30-Sep-2019
Note                                     :
Ref: MFC PT 93/2019

November 11, 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 quarter 3 ended 30
September 2019 over 20% from  the same period last year as follows;

For quarter 3 ended 30 September 2019, the Fund had net gain from investments of
Baht 0.014 million, decreasing from Baht 1.89 million in the same period last
year, or a decrease of 99.26% which was mainly due to the followings;

- During the period the Fund has adjusted the fair value of the properties. As a
result, the Fund has recognized an unrealized loss on investment of Baht 1.36
million whereas in the same period last year the Fund has no such transaction.

- The Fund's total revenue was Baht 7.45 million compared with Baht 5.85 million
from the same period last year, or an increase of 27.28% which was due to the
higher occupancy rate compared with the same period last year particularly the
Sunshine Place project with the occupancy rate of 100% compared to 45% last
year.

- The Fund's expense was Baht 6.07 million, an increase from Baht 3.96 million 
from the same period last year or an increase of 53.38% mainly from a higher
repair and maintenance expense from higher occupancy rate of the Sunshine Place
Project.

For 9 months ended 30 September 2019, the Fund had net loss from investments of 
Baht 12.40 million, from a net gain from investment of Baht 2.83 million in the
same period last year, or a decrease of 538.44% which was mainly due to the
followings;

- During the period the Fund has adjusted the fair value of the properties. As a
result, the Fund has recognized an unrealized loss on investment of Baht 17.27
million whereas in the same period last year the Fund had an unrealized loss on
investment of Baht 2.51.

- The Fund's total revenue was Baht 18.39 million compared with Baht 16.26 
million from the same period last year, or an increase of 13.14% which was due
to the higher occupancy rate of the Sunshine Place Project as mentioned.

- The Fund's expense was Baht 13.52 million, an increase from Baht 10.92 million
from the same period last year or an increase of 23.88% mainly from a higher
repair and maintenance expense from higher occupancy rate of the Sunshine Place
Project.


Kindly be advised accordingly.

Yours faithfully,



(Ms. Natree Panassutrakorn)
Executive Vice President

Property and Infrastructure Fund Department
02-649-2175
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