News Detail

                Management Discussion and Analysis

Company name                             : ERAWAN HOTEL GROWTH PROPERTY FUND
Year                                     : 2016
Quarter                                  : Quarter 3
Ending                                   : 30-Sep-2016
Note                                     :
JorTor. 11-590430                        November 11, 2016

To:    The President
The Stock Exchange of Thailand

Re:    Clarification of the change in the net increase in net assets from 
operations in excess of 20% of
Erawan Hotel Growth Property Fund (ERWPF)

SCB Asset Management Co., Ltd., the Management Company of Erawan Hotel Growth 
Property Fund ("The Fund"), would like to clarify the net decrease in net assets
from operations for the third quarter of 2016 (3-month period from July 1, 2016
to September 30, 2016) which decreased in excess of 20% comparing to the same
period of 2015.
The Fund has the net decrease in net assets from operations of Baht -19.71 
million as of September 30, 2016 or a decrease of Baht -45.93 million (-175.13%)
from the same period last year. It is a result of a decrease in net unrealized
loss from investment of Baht -45.99 million compared to the same period last
year when there was no investment appraisal.
As a result, the net change in net assets from operations as of September 30, 
2016 has changed in excess of 20% when compared to the same period last year.


Please be informed accordingly.


Yours faithfully,
Erawan Hotel Growth Property Fund
By SCB Asset Management Company Limited



(Ms. Pijittra Trirattanathada)
Executive Vice President, Property and Infrastructure Investment Group
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