15 May 2015 20:57:00
Management Discussion and Analysis Quarter 1 Ending 31-Mar-2015
Management Discussion and Analysis Company name : TRUE TELECOMMUNICATIONS GROWTH INFRASTRUCTURE FUND Year : 2015 Quarter : Quarter 1 Ending : 31-Mar-2015 Note : JorTor 11-580270 May 15, 2015 To: The President The Stock Exchange of Thailand Re: Clarification on the change in the net increase in net assets from operations in excess of 20% of TRUE Telecommunications Growth Infrastructure Fund (TRUEIF) SCB Asset Management Co., Ltd., the Management Company of TRUE Telecommunications Growth Infrastructure Fund ("the Fund"), would like to clarify the change in the net increase in net assets from operations for the quarter ended March 31, 2015 which decreased in excess of 20%, compared to that of the same period in 2014. The Fund has the net increase in net assets from operations of Baht 1,275.10 million for the quarter ended March 31, 2015 or a decrease of Baht 14,497.99 million (91.92%) from that of the same period last year. It is a result of a decrease in a net unrealized gain from investment of Baht 14,725.80 million or 99.99% (ended March 31, 2015 : Baht 0.85 million, ended March 31, 2014 : Baht 14,726.65 million), where there is an absence of re-appraisal in Q1/2015. Conversely, in Q1/2014 there is the re-appraisal that leads to a net unrealized gain from investment of Baht 14,726.65 million. Furthermore, the Fund has changed the re-appraisal policy. From January 2015 onwards, the Fund will re-valuate the assets of the Fund once a year, occurring in Q4 on annual basis, unless there is any event impacting the assets of the Fund. As a consequence, the net increase in net assets from operations as of March 31, 2015 has decreased in excess of 20% when compared to the same period last year. Please be informed accordingly. Yours Faithfully, TRUE Telecommunications Growth Infrastructure Fund By SCB Asset Management Company (Ms. Pijittra Trirattanathada) Senior Vice President, Property and Infrastructure Investment Group This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.