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13 May 2022 17:20:00
Management Discussion and Analysis Quarter 1 Ending 31 Mar 2022
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                Management Discussion and Analysis

Company name                             : MFC PATONG HERITAGE PROPERTY FUND
Year                                     : 2022
Quarter                                  : Quarter 1
Ending                                   : 31-Mar-2022
Note                                     :

13 May 2022
To    The President
    The Stock Exchange of Thailand
Ref: MFC PT. 049/2022 Clarification for the change of Fund's performance over 

MFC Asset Management Public Company Limited, as the Management Company of MFC 
Patong Heritage Property Fund ("the Fund"), would like to clarify the change in
net Fund's performance for the three-month period ended 31 March 2022 over 20%
from  the same period of previous  year as follows;
For the three-month period ended 31 March 2022, the Fund has net decrease in net
assets from operations of Baht 0.11 million, a less decrease of Baht 0.13
million or equivalent to 53.11% compared to the same period of previous year in
which amounting to Baht 0.24 million. This is mainly a result of fixed rental
the fund received in this period in accordance to the lease agreement dated on
September 1st, 2021 compare with the same period of previous year that there was
 no rental income.

Kindly be informed accordingly.

Yours faithfully,

(Ms. Natree Panassutrakorn)
Executive Vice President

Property and Infrastructure Fund Department
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