News Detail

                Management Discussion and Analysis

Company name                             : ERAWAN HOTEL GROWTH PROPERTY FUND
Year                                     : 2018
Quarter                                  : Quarter 3
Ending                                   : 30-Sep-2018
Note                                     :
JorTor. 11-610220                            November 13, 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 increase
in net assets from operations for three months ended September 30, 2018 which
increased in excess of 20%, compared to that of the same period in 2017.
The Fund has the net increase in net assets from operations for three months 
ended September 30, 2018 amounted to Baht 23.76 million, compared to the net
decrease in net assets from operations of Baht 109.28 million for the same
period in 2017, or an increase of Baht 133.04 million (121.75%) from that of the
same period last year. This is mainly a result of net unrealized gain from
investment mainly from a change in fair value of the assets resulting from asset
re-appraisal by the independent appraiser totaled Baht 7.10 million  (for
period ended Sep 30, 2017: Baht         -125.96 million)
As a result, the net increase in net assets from operations for the third 
quarter of 2018 has increased 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


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