News Detail

Date/Time
14 May 2020 19:25:00
Headline
Management Discussion and Analysis Quarter 1 Ending 31 Mar 2020
Symbol
M-PAT
Source
M-PAT
Full Detailed News
Download Full Detailed News
                Management Discussion and Analysis

Company name                             : MFC PATONG HERITAGE PROPERTY FUND
Year                                     : 2020
Quarter                                  : Quarter 1
Ending                                   : 31-Mar-2020
Note                                     :
Ref: MFC PT. 042/2020

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 
Patong Heritage Property Fund (M-PAT) ("the Fund"), would like to offer an
explanation for the change of the Fund's performance for the three-month period
ended 31 March 2020 over 20% from  the same period last year as follows;

For the three-month period ended 31 March 2020, the Fund had net gain from 
investments of Baht 3.50 million, decreasing from a net gain on investment of
Baht 20.26 million in the same period last year, or a decrease of 82.70%. The
main reason was due to the followings.

- For the three-month period ended 31 March 2020, the Fund had total revenue of 
Baht 4.73 million, compared with Baht 21.77 million from the same period last
year, or a decrease of 78.29% because of the end of lease agreement of the Fund
on 11 June 2019 and applicable of the 3 months extension lease agreement with
the rental rate according to hotel performance. Furthermore, the Fund has
entered new lease agreement for the period of 1 year commencing from September 1
2018 to August 31,2019 with the rental rates consist the mixture of fix rental
rate and variable rental rate according to hotel performance resulted in a
decrease in rental revenue.

- The Fund's expenses was Baht 1.22 million compared with Baht 1.51 million in 
the same period last year, or a decrease of 19.20% due to a decrease in Fund's
fees from a decrease in net asset value resulted from  a decrease in the market
value of the property.


Kindly be informed accordingly.

Yours faithfully,


(Ms. Natree Panassutrakorn)
Executive Vice President











REIT, Property and Infrastructure Fund Department
02-649-20000
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.