News Detail

Date/Time
28 Feb 2018 12:57:00
Headline
Management Discussion and Analysis Yearly Ending 31 Dec 2017
Symbol
ERWPF
Source
ERWPF
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                Management Discussion and Analysis

Company name                             : ERAWAN HOTEL GROWTH PROPERTY FUND
Year                                     : 2017
Quarter                                  : Yearly
Ending                                   : 31-Dec-2017
Note                                     :
JorTor. 11- 610046                            February 28, 2018

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 the year ended December 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 the year ended 
December 31, 2017 amounted to Baht 122.36 million, compared to the net increase
in net assets from operations of Baht 72.96 million for the same period in 2016,
or a decrease of Baht 195.32 million (267.70%) from last year. This is mainly a
result of a net unrealized loss from investment of Baht 156.77 million (the
year ended December 31, 2017: Baht -188.38 million; the year ended December 31,
2016: Baht -31.61 million. An increase in such net unrealized loss stems mainly
from a change in fair value of the assets resulting from asset re-appraisal by
the independent appraiser. Another result is a reduction of rental income
totaled Baht 39.00 million (the year ended December 31, 2017: Baht 72.50
million; the year ended June 30, 2016: Baht 111.50 million). A reduction in
rental income stems mainly from the guaranteed rental agreement has expired on
Mar 31,2017.

Please be informed accordingly.


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


(Mrs.Tipaphan Puttarawigorm)
Executive Vice President, Property and Infrastructure Investment Group
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