News Detail

Date/Time
14 Aug 2019 12:37:00
Headline
Management Discussion and Analysis Quarter 2 Ending 30 Jun 2019
Symbol
MNRF
Source
MNRF
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                Management Discussion and Analysis

Company name                             : MULTI-NATIONAL RESIDENCE FUND
Year                                     : 2019
Quarter                                  : Quarter 2
Ending                                   : 30-Jun-2019
Note                                     :
Ref: MFC PT. 81/2019

August 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 quarter 2 ended 30 June 2019 over
20% from  the same period last year as follows;

For quarter 2 ended 30 June 2019, the Fund had net loss from investments of Baht
0.74 million, decreasing from Baht 1.36 million in the same period last year,
or a decrease of 153.93%. The main reason was due to the followings.

- During quarter 2 ended 30 June 2019, the Fund has sold condominium units 
totaling 7 units, the fair value of the units sold has to be adjusted, resulted
in an unrealized loss on investment of Baht 3.51 million whereas in the same
period last year the Fund has no such transaction

- The Fund had total revenue of Baht 7.42 million, compared with Baht 7.08 
million from the same period last year, or an increase of 4.63% due to a
slightly increase in occupancy rate.

- The Fund's expenses was Baht 5.51 million compared with Baht 5.70 million in 
the same period last year, or a decrease of 3.25%.

For six-month period ended 30 June 2019, the Fund had net loss from investments 
of Baht 3.40  million, decreasing from Baht 2.98 million in the same period last
 year, or a decrease of 214.09%. The main reason was due to the followings.

- During six-month period ended 30 June 2019, the Fund has sold condominium 
units totaling 13 units, the fair value of the units sold has to be adjusted,
resulted in an unrealized loss on investment of Baht 8.49 million whereas in the
 same period last year the Fund has no such transaction

- The Fund had total revenue of Baht 15.44 million, compared with Baht 13.93 
million from the same period last year, or an increase of 10.83% because of a
slightly increase in occupancy rate.

- The Fund's expenses was Baht 11.89 million compared with Baht 10.94 million in
the same period last year, or  an increase of 8.68% due mainly from
repair&maintenance expense from more tenants moving in .


Kindly be informed accordingly.

Yours faithfully,


(Ms. Natree Panassutrakorn)
Executive Vice President


Property and Infrastructure Fund Department
02-649-2173, 2014
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