01 Nov 2021 13:03:00
Details of Assets and Valuation of MFC Patong Heritage Property Fund (M-PAT)
November 1, 2021 To The President The Stock Exchange of Thailand No. Kor Tor Ror. Sor Aor Sor 72/2021 Re: Details of Assets and Valuation of MFC Patong Heritage Property Fund (M-PAT) MFC Asset Management Public Company Limited, the Management Company of MFC Patong Heritage Property Fund ("the Fund") would like to notify the details of asset and its valuation as follows: 1. Appraiser Knight Frank Chartered (Thailand) Co.,Ltd. 2. Valuation Date September 1, 2021 3. Location 183 units in Patong Night Plaza Condominium, locate at 205/16 Soi Fah Prathan, Ratuthit Songroipi Road, Patong, Kathu District, Phuket 4. Details of Asset Part 1 : Patong Heritage Hotel Ownership as freehold of 183 condominium units currently operated as hotel business under the title "Patong Heritage Hotel together with standard system and facilities Part 2 : Land and building Ownership as freehold of the land area 55.6 Sq.Wah 5. Method of Valuation Income Approach according to the Fund's structure derived from an estimation of the net income generated from the subject properties. Under this valuation the appraiser applied 12- year discounted cash flow projection plus its terminal value to indicate the property value. 6. Assumptions Capitalization Rate 7.50% and Discount Rate 9.00% 7. Appraisal Value 532,000,000 THB 8 Opinion Asset management opines that the assumptions which applied in the valuation, derived from term and conditions in relevant agreements of the Fund, is suitable Investor may request for more details of the appraisal report at the Management Company Please be informed accordingly, Yours faithfully, (Miss Natree Panassutrakorn) Executive Vice President ______________________________________________________________________ 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.