News Detail

                Management Discussion and Analysis

Company name                             : ERAWAN HOTEL GROWTH PROPERTY FUND
Year                                     : 2019
Quarter                                  : Quarter 1
Ending                                   : 31-Mar-2019
Note                                     :
JorTor. 11- 620176                        May 14, 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 increase
in net assets from operations for the first quarter of 2019 which increase in
excess of 20%, compared to that of the same period in 2018.
The Fund has the net increase in net assets from operations for three months 
ended March 31, 2019 amounted to Baht 16.43 million, compared to the net
decrease in net assets from operations of Baht -70.67 million for the same
period in 2018, or an increase of Baht 87.10 million (123.24%) from that of the
same period last year. It is a result of the fund has net unrealised loss from
investments totaled Baht -87.95 million in 2018 which is non-cash accounting
item.
As a result, the net increase in net assets from operations for first quarter 
ended March 31, 2019 has changed 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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