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13 May 2021 12:43:00
Management Discussion and Analysis Quarter 1 Ending 31 Mar 2021
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                Management Discussion and Analysis

Company name                             : MFC PATONG HERITAGE PROPERTY FUND
Year                                     : 2021
Quarter                                  : Quarter 1
Ending                                   : 31-Mar-2021
Note                                     :

13 May 2021
To    The President
    The Stock Exchange of Thailand
Ref: MFC PT. 29/2021 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 1st quarter ended 31 March 2021 over
20% from  the same period of previous  year as follows;
For  the three-month period ended 31 March 2021, the Fund has net decrease in 
net assets from operations of Baht 0.24 million, a decrease of  Baht 3.75
million or equivalent to 106.88% compared to the same period of previous year in
which has an increase of Baht 3.50 million. This is mainly a result of no
variable rental according to hotel performance during 1 January 2021 to 31 March
 2021 effect from ongoing impact from the COVID-19 pandemic.

Kindly be informed accordingly.

Yours faithfully,

(Ms. Natree Panassutrakorn)
Executive Vice President

Property and Infrastructure Fund Department
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