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19 Nov 2021 17:08:00
Announcement for the 5th Capital Reduction of Hemaraj Industrial Property and Leasehold Fund (HPF)
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                Capital reduction

Subject                                  : Capital reduction
Date announced                           : 19-Nov-2021
Decreasing value of units (THB per unit) : 0.105
Par value before capital reduction (THB  : 9.513
per unit)
Par value after capital reduction (THB   : 9.408
per unit)
Book closing date for fixing the names   : 07-Dec-2021
of unitholders for the right to receive 
payment from fund's capital reduction
Ex-Capital Return date (XN)              : 02-Dec-2021
Payment date                             : 23-Dec-2021
Remark                                   :
Ref.MFC PT.083/2021

November 19, 2021

The Stock Exchange of Thailand

Dear Sir,

Re: Announcement for the 5th Capital Reduction of Hemaraj Industrial Property 
and Leasehold Fund (HPF)

MFC Asset Management Public Company Limited, as the management company of the 
Hemaraj Industrial Property and Leasehold Fund (the "Fund"), would like to
inform you that the Fund has unrealized loss from the revaluation of asset
resulting in accumulated loss of the Fund. Hence, the Fund cannot distribute
dividend as normally which creates excess liquidity in the Fund. In order to pay
the excess liquidity resulting from non-cash item as stated above, the Fund can
 distribute such excess liquidity by capital reduction process.

On November 19, 2021, the Property Investment Committee approves the capital 
reduction of the Fund by decreasing the par value of unit. Details are as
1. Existing par value before the capital reduction (THB per unit)             : 9.513
2. Decreasing value of investment units (THB per unit)                 : 0.105
3. New par value after the capital reduction (THB per unit)             : 9.408
4. Book closing date to determine unitholders' rights to receive
    capital reduction payment                             : 7 December 2021
5. Ex-Capital Return date (XN)                             : 2 December 2021
6. Payment date                                 : 23 December 2021

Note: The latest dividend distribution guideline according to the Notification 
of Capital Market Supervisory Board No. Tor. Nor. 37/2564 (effective from May
16, 2021) states that in the event that the fund has accumulated loss, the
management company is prohibited from paying dividend.

Please be informed accordingly

Yours truly,

Ms. Natree Panassutrakorn
Executive Vice President

REIT, Property and Infrastructure Fund Department
Tel. 0-2649-2000
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