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01 Nov 2021 13:03:00
Details of Assets and Valuation of MFC Patong Heritage Property Fund (M-PAT)
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                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,
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 
Please be informed accordingly,

Yours faithfully,
(Miss Natree Panassutrakorn)
Executive Vice President
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