News Detail

Date/Time
08 Nov 2021 17:04:00
Headline
Management Discussion and Analysis Quarter 3 Ending 30 Sep 2021
Symbol
MNIT
Source
MNIT
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                Management Discussion and Analysis

Company name                             : MFC-NICHADA THANI PROPERTY FUND
Year                                     : 2021
Quarter                                  : Quarter 3
Ending                                   : 30-Sep-2021
Note                                     :

Ref: MFC PT 73/2021

November 8, 2021
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 2021 over 20% from  the same period last year as follows;

For Q3 ended 30 September 2021, the Fund had increase in net assets from 
operations of Baht 2.63 million, decreasing from Baht 5.99 million in the same
period last year, or an decrease of 56.10% which was mainly due to the
followings;

- For the period of 2021 the Fund's total revenue was Baht 6.21 million compared
with Baht 6.73 million from the same period last year, or a decrease of 7.80%
which was due to the lower rental rate compared with the same period last year.

- The Fund's expense was Baht 3.56 million, increasing from Baht 0.73 million 
from the same period last year or an increase of 387.55% mainly from a higher
expenses such as repair and the adjustment of the estimated land and building
tax which was higher than actually paid due from the governments' tax rate
policy.

For nine-month period ended 30 September 2021, the Fund had increase in net 
assets from  operations of Baht 4.83 million, decreasing from Baht 9.19 million
in the same period last year, or an decrease of 47.41%. The main reasons were:

- The Fund had total revenue of Baht 19.35 million, compared with Baht 21.42 
million from the same period last year, or a decrease of 9.67% because of
slightly decrease in rental rate.

- The Fund's expense was Baht 10.94 million compared with Baht 8.30 million in 
the same period last year, or an increase of 31.87% mainly from a higher
expenses such as repair 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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