26 Feb 2019 19:04:00
Management Discussion and Analysis Yearly Ending 31 Dec 2018
Management Discussion and Analysis Company name : ERAWAN HOTEL GROWTH PROPERTY FUND Year : 2018 Quarter : Yearly Ending : 31-Dec-2018 Note : JorTor. 11- 620070 February 26, 2019 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, 2018 which increase in excess of 20%, compared to that of the same period in 2018. The Fund has the net change in net assets from operations for the year ended December 31, 2018 amounted to Baht -18.39 million, compared to the net decrease in net assets from operations of Baht -122.36 million for the year ended in 2017, or an increase of Baht 103.97 million (84.97%) from the last year. This is mainly a result of net unrealized loss stems from a change in fair value of the assets resulting from asset re-appraisal by the independent appraiser totaled Baht -84.50 million (the year ended December 31, 2017: Baht -188.38 million) As a result, the net decrease in net assets from operations for the year ended December 31, 2018 has changed in excess of 20% when compared to the year ended in 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 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.