28 Feb 2020 13:08:00
Management Discussion and Analysis Yearly Ending 31 Dec 2019
Management Discussion and Analysis Company name : MILLIONAIRE PROPERTY FUND Year : 2019 Quarter : Yearly Ending : 31-Dec-2019 Note : PT. 027/2020 28 February 2020 Re: Clarification of more than 20% Change of Operations Result of Millionaire Property Fund To: President The Stock Exchange of Thailand One Asset Management Limited in its capacity as the fund manager of Millionaire Property Fund (the Fund) would like to inform the reasons for the change of operations result for the year ended 31 December 2019 where the increase in net assets resulting from operations was Baht 143.57 million, representing a decrease of Baht 60.78 million or 29.74% from the year ended 2018. The main reason was that at the end of 2019, the Fund has a net unrealized loss on investments of Baht 25.99 million, mainly due to the decrease in appraisal price of assets of the Fund from the year 2018 whereby the Fund had a net unrealized gain on investments from appraisal of assets of the Fund of Baht 10.01 million. Hence, the Fund had a decrease on net unrealized gain from investments of Baht 36 million. In addition, the Fund's decrease in investment income resulting from declining rental and service income of Baht 17.39 million and increase in cost of rental and services of Baht 7.71 million resulting from cooling system improvement of the Fund's main asset. Please be informed accordingly Sincerely yours, Mr. Alongkorn Prathanrasnikorn Senior Executive Vice President Property and Infrastructure Fund Department Tel: 02 659 8888 ext.8843, 8837 and 8878 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.