09 Nov 2020 12:54:00
Management Discussion and Analysis Quarter 3 Ending 30 Sep 2020
Management Discussion and Analysis Company name : MFC PATONG HERITAGE PROPERTY FUND Year : 2020 Quarter : Quarter 3 Ending : 30-Sep-2020 Note : 9 November, 2020 To The President The Stock Exchange of Thailand Ref: MFC PT. 81/2020 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 clarify the change in net Fund's performance for the 3rd quarter ended 30 September 2020 over 20% from the same period of previous year as follows; For the three-month period ended 30 September 2020, the Fund has net decrease in net assets from operations of Baht 226.05 million, an additional decrease of Baht 33.38 million or equivalent to 17.34% compared to the same period of previous year in which amounted to Baht 192.67 million. This is mainly a result of a decreasing of rental revenue due to the rental exemption from 1 February 2020 to 31 August 2020 according to the resolution of the extraordinary meeting of unitholders No. 1/2020 and also ongoing impact from the COVID-19 pandemic. For the nine-month period ended 30 September 2020, the Fund has net decrease in net assets from operations of Baht 224.77 million, an additional decrease of Baht 40.95 million or equivalent to 22.28% compared to the same period of previous year in which amounted to Baht 183.82 million. This is mainly due to a decreasing of rental revenue as stated above. Kindly be informed 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.