14 May 2019 21:03:00
Management Discussion and Analysis Quarter 1 Ending 31 Mar 2019
Management Discussion and Analysis Company name : MULTI-NATIONAL RESIDENCE FUND Year : 2019 Quarter : Quarter 1 Ending : 31-Mar-2019 Note : Ref: MFC PT. 63/2019 May 14, 2019 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 the three-month period ended 31 March 2019 over 20% from the same period last year as follow. For the three-month period ended 31 March 2019, the Fund had net loss from investments of Baht 2.67 million from a net gain on investments of Baht 1.62 million in the same period last year, or a decrease of 264.87%. The main reason was due to the followings. - During the three-month period ended 31 March 2019 the Fund has adjusted the market value of property using the sale price of asset instead of appraisal value, as a result, the Fund has recognized an unrealized loss on properties revaluation of Baht 4.98 million whereas in the same period year 2018 there was no such transactions. - The Fund has revenue of Baht 8.02 compared with Baht 6.84 million from the same period last year, or an increase of 17.23% due to the a little bit higher occupancy rate compared to last year. - The Fund has total expenses of Baht 6.37 million, increasing from 5.24 million from the same period last year, representing a 21.64% increase due to some expense increased over the last year such as repair and maintenance expense from more tenants coming in. Kindly be advised accordingly. Yours faithfully, (Mr. Sommate Rungkakulnuwat) Senior Vice President Property and Infrastructure Fund Department Tel. 02-649-2174, 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.