12 May 2017 20:43:00
Management Discussion and Analysis Quarter 1 Ending 31 Mar 2017
Management Discussion and Analysis Company name : ERAWAN HOTEL GROWTH PROPERTY FUND Year : 2017 Quarter : Quarter 1 Ending : 31-Mar-2017 Note : JorTor. 11-600144 May 12, 2017 To: The President The Stock Exchange of Thailand Re: Clarification of the change 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 change in the net decrease in net assets from operations for three months ended March 31, 2017 which decreased in excess of 20%, compared to that of the same period in 2016. The Fund has the net decrease in net assets from operations for three months ended March 31, 2017 amounted to Baht 36.60 million, compared to the net increase in net assets from operations of Baht 40.46 million for the same period in 2016, or a decrease of Baht 77.06 million (190.46%) from that of the same period last year. This is mainly a result of a net unrealized loss from investment totaled Baht 77.41 million (for three-month period ended March 31, 2017: Baht -63.00 million; three-month period ended March 31, 2016: Baht 14.41 million). A reduction in such net unrealized gain stems mainly from a change in fair value of the assets resulting from asset re-appraisal by the independent appraiser. That is, in Q1 2017 there was a net unrealized loss on appraisal of Baht 63.00 million whereas there was a net unrealized gain on appraisal of Baht 14.40 million in Q1 2016. 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 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.