28 Feb 2018 17:02:00
Management Discussion and Analysis Yearly Ending 31 Dec 2017 (Revise Template)
Management Discussion and Analysis Company name (New) : MULTI-NATIONAL RESIDENCE FUND Year (New) : 2017 Quarter (New) : Yearly Ending (New) : 31-Dec-2017 Note (New) : Ref : MFC PT. 010/2018 February 28, 2018 Director and Manager The Stock Exchange of Thailand Dear Sir, Re : Clarification for the change of Fund's performance over 20% MFC Asset Management Public Company Limited, as the Management Company of Multi-National Residence Fund ("the Fund"), would like to offer an explanation for the change of the Fund's performance for year-end 2017 over 20% from the same period last year as follow. For the year 2017, the Fund had net gain from investments of Baht 8.77 million from a net loss on investments of Baht 147.26 million in the same period last year, or an increase of 105.95%. The main reason was due to the followings. - During the year 2017 the Fund has adjusted the market value of investment in property, as a result, the Fund has recognized an unrealized loss on properties revaluation of Baht 3.45 million whereas in the same period last year the Fund has recognized an unrealized loss of Baht 145.19 million. - The Fund has rental revenue of Baht 25.75 compared with Baht 23.78 million from the same period last year, or an increase of 8.26%. - The Fund has total expense of Baht 26.22 million, increasing from 25.85 million from the same period last year, representing a 1.41 % increase. -During the period, the Fund has sold some properties which are a residential condominium of Danicha Gardens Condominium comprising of 8 residential units and land with 1 units of 2-storeyed private house of Palmtree Place. The Fund has realized a gain on sale, net of related expenses of Baht 5.79 million Kindly be advised accordingly. Yours faithfully, (Mr. Sommate Rungkakulnuwat) Senior Vice President Property and Infrastructure Fund Department Tel. 02-649-2183, 2173 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.