27 Feb 2020 17:06:00
Management Discussion and Analysis Yearly Ending 31 Dec 2019
Management Discussion and Analysis Company name : MFC-NICHADA THANI PROPERTY FUND Year : 2019 Quarter : Yearly Ending : 31-Dec-2019 Note : Ref: MFC PT 006/2020 February 21, 2020 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 year ended 31 December 2019 over 20% from the same period last year as follows; For year 2019, the Fund had net loss from investments of Baht 8.70 million, decreasing from a net gain from investments of Baht 5.40 million in year 2018, or a decrease of 261.13% which was mainly due to the followings; - During the year 2019 the Fund has adjusted the fair value of the properties. As a result, the Fund has recognized an unrealized loss on investment of Baht 17.30 million whereas in the year 2018 the Fund has an unrealized loss on investment of Baht 2.51 million. - The Fund's total revenue was Baht 25.99 million compared with Baht 22.22 million from year 2018, or an increase of 16.98% which was due to the higher occupancy rate compared with year 2018 particularly the Sunshine Place Project with the occupancy rate of 100% compared to 45% last year. - The Fund's expense was Baht 17.41 million, an increase from Baht 14.31 million in 2018 or an increase of 21.71% 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 REIT, Property and Infrastructure Fund Department 02-649-2000 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.