14 May 2020 12:42:00
Management Discussion and Analysis Quarter 1 Ending 31 Mar 2020
Management Discussion and Analysis Company name : MFC-NICHADA THANI PROPERTY FUND Year : 2020 Quarter : Quarter 1 Ending : 31-Mar-2020 Note : Ref: MFC PT. 39/2020 May 14, 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 quarter 1 ended 31 March 2020 over 20% from the same period last year as follows; For quarter 1 ended 31 March 2020, the Fund had net gain from investments of Baht 3.24 million, increasing from net gain from investments Baht 1.99 million in the same period last year, or an increase of 62.75% which was mainly due to the followings; - For quarter 1 ended 31 March 2020 the Fund's total revenue was Baht 7.50 million compared with Baht 5.33 million from the same period last year, or an increase of 40.67% which was due to the higher occupancy rate compared with the same period 2019 particularly the Sunshine Place Project with the occupancy rate of 100% compared to 40% of the same period last year. - The Fund's expense was Baht 4.12 million, an increase from Baht 3.33 million from the same period last year or an increase of 23.64% mainly from a higher expenses such as repair and maintenance and membership fee from a higher tenants. 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.