News Detail

Date/Time
09 Nov 2020 12:44:00
Headline
Management Discussion and Analysis Quarter 3 Ending 30 Sep 2020
Symbol
MNIT
Source
MNIT
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                Management Discussion and Analysis

Company name                             : MFC-NICHADA THANI PROPERTY FUND
Year                                     : 2020
Quarter                                  : Quarter 3
Ending                                   : 30-Sep-2020
Note                                     :
Ref: MFC PT 82/2020

November 9, 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 3 ended 30
September 2020 over 20% from  the same period last year as follows;

For quarter 3 ended 30 September 2020, the Fund had net gain from investments of
Baht 5.99 million, increasing from Baht 0.014 million in the same period last
year, or a increase of 42,707.14% which was mainly due to the followings;

- The Fund's expense was Baht 0.73 million, a decrease from Baht 6.07 million 
from the same period last year or a decrease of 87.97% mainly from a lower
repair and maintenance expense from the continue lease agreement with the same
tenant and the adjustment of the estimated land and building tax which was
higher than actually paid due from the governments' tax rate policy.

- The Fund's total revenue was Baht 6.73 million compared with Baht 7.45 million
from the same period last year, or a decrease of 9.59% which was due to the
lower occupancy rate compared with the same period last year.


For 9 months ended 30 September 2020, the Fund had net gain from investments of 
Baht 9.19 million, from a net loss from investment of Baht 12.40 million in the
same period last year, or an increase of 174.09% which was mainly due to the
followings;

- During the period the Fund has adjusted the fair value of the properties. As a
result, the Fund has recognized an unrealized loss on investment of Baht 3.93
million whereas in the same period last year the Fund had an unrealized loss on
investment of Baht 17.27 million.

- The Fund's total revenue was Baht 21.42 million compared with Baht 18.40 
million from the same period last year, or an increase of 16.43% which was due
to the higher occupancy rate of the Sunshine Place Project.

- The Fund's expense was Baht 8.30 million, a decrease from Baht 13.52 million 
from the same period last year or a decrease of 38.65% mainly from a lower
repair and maintenance expense and the adjustment of the estimated land and
building tax which was higher than actually paid due from the governments' tax
rate policy.


Kindly be advised accordingly.

Yours faithfully,



(Ms. Natree Panassutrakorn)
Executive Vice President

Property and Infrastructure Fund Department
02-649-2000
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