14 Aug 2020 12:34:00
Management Discussion and Analysis Quarter 2 Ending 30 Jun 2020
Management Discussion and Analysis Company name : MFC-NICHADA THANI PROPERTY FUND Year : 2020 Quarter : Quarter 2 Ending : 30-Jun-2020 Note : Ref: MFC PT 68/2020 August 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 2 ended 30 June 2020 over 20% from the same period last year as follows; For quarter 2 ended 30 June 2020 and 2019, the Fund had net loss from investments of Baht 0.05 million and Baht 14.41 million, net loss decreasing 99.67% which was mainly due to the followings; - For the period of 2020 the Fund has adjusted the fair value of the properties and recognized an unrealized loss on investment of Baht 3.80 million whereas in the same period last year the Fund has recognized an unrealized loss of Baht 15.70 million. - For the period of 2020 the Fund's total revenue was Baht 7.19 million compared with Baht 5.62 million from the same period last year, or an increase of 27.94% which was due to the higher occupancy rate compared with the same period last year. - The Fund's expense was Baht 3.45 million, a decrease from Baht 4.12 million from the same period last year or a decrease of 16.32% mainly from a higher expenses such as repair and maintenance. Kindly be advised accordingly. Yours faithfully, (Ms. Natree Panassutrakorn) Executive Vice President 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.