News Detail

                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
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