News Detail

Date/Time
10 Nov 2021 19:52:00
Headline
Management Discussion and Analysis Quarter 3 Ending 30 Sep 2021
Symbol
MNRF
Source
MNRF
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                Management Discussion and Analysis

Company name                             : MULTI-NATIONAL RESIDENCE FUND
Year                                     : 2021
Quarter                                  : Quarter 3
Ending                                   : 30-Sep-2021
Note                                     :
Ref: MFC PT. 75/2021

November 10, 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 
Multi-National Residence Fund ("the Fund"), would like to provide an explanation
for the change of the Fund's performance for Q3 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 1.25 million decreasing from Baht 3.77 million in the same
period last year, or a decrease of 66.99%. The main reason was due to the
following;

- For Q3 of 2021, the Fund had total income of Baht 5.68 million, compared with 
Baht 6.08 million from the same period last year, or a decrease of 6.61% due to
decrease in occupancy rate and rental rate.

- The Fund's expenses was Baht 4.39 million compared with Baht 2.08 million in 
the same period last year, or an increase of 110.76% mainly from a higher
expense such as repair, maintenance 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 4.85 million, decreasing from Baht 8.31 million
in the same period last year, or a decrease of 41.58%. The main reasons were:

- The Fund had total income of Baht 17.52 million, compared with Baht 20.19 
million from the same period last year, or a decrease of 13.26% due to decrease
in occupancy rate and rental rate.

- The Fund's expense was Baht 12.97 million compared with Baht 11.37 million in 
the same period last year, or an increase of 14.02% mainly from a higher expense
such as repair, maintenance 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 informed accordingly.

Yours faithfully,


(Ms. Natree Panassutrakorn)
Executive Vice President
REIT, Property and Infrastructure Fund Department
02-649-2000
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