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12 May 2016 17:40:00
Clarification on the Change of Operational Performance Exceeding 20%
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                Operating result

Land and Houses Fund Management Co.,Ltd. as the management company of Quality 
Houses Hotel and Residence Freehold and Leasehold Property Fund ("QHHR") would
like to inform the clarification of the audited financial operation results for
the income statements for the three-month period ended 31 march 2016 which
exceeded 20% from the same period last year as following:
For the three-month period ended 31 march 2016 QHHR's net assets resulting from 
operations decreased by Baht 4,147.030 million compared to the same period last
year amounted to Baht 3,584.842  million, a increase of 16%, mainly due to the
1.    QHHR recorded rental and services income of Baht 70.687 million, compared 
with Baht 66.604 million recorded in the same period last year, a increase of
Baht 4.083 million or 6%.
2.     QHHR recorded total expenses of Baht 4.757 million, compared with Baht 4.449
million recorded in the same period last year, a increase of Baht 45.228
million or 7%.
3.    QHHR has unrealized gains on investment revaluation from independent 
appraisers when March 25,2016 by income approach method of Baht 600.00 million,
compared with the same period last year that had net unrealized gains on
investments revaluation of Baht 7.00 Million, a increase of Baht 593.00 million
or 8,470%. The result of better situation in tourism and the adjustment in
marketing strategy by expanding target base customers improved operating
performance of all three sites.

Please kindly be informed accordingly
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