11 Nov 2019 17:15:00
Management Discussion and Analysis Quarter 3 Ending 30 Sep 2019
Management Discussion and Analysis Company name : MULTI-NATIONAL RESIDENCE FUND Year : 2019 Quarter : Quarter 3 Ending : 30-Sep-2019 Note : Ref: MFC PT. 94/2019 November 11, 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 3 ended 30 September 2019 over 20% from the same period last year as follows; For quarter 3 ended 30 September2019, the Fund had net gain from investments of Baht 1.08 million, increasing from Baht 0.98 million in the same period last year, or an increase of 9.92%. The main reason was due to the followings. - The Fund had total revenue of Baht 7.44 million, compared with Baht 7.17 million from the same period last year, or an increase of 3.68% due to a slightly increase in occupancy rate. - The Fund's expenses was Baht 5.45 million compared with Baht 6.20 million in the same period last year, or a decrease of 12.16% from some expenses decrease such as central expense. For nine-month period ended 30 September 2019, the Fund had net loss from investments of Baht 2.33 million, decreasing from a net gain from investment of Baht 3.96 million in the same period last year, or a decrease of 158.74%. The main reason was due to the followings. - During nine-month period ended 30 September 2019, the Fund has sold condominium units totaling 16 units, the fair value of the units sold has to be adjusted, resulted in an unrealized loss on investment of Baht 9.80 million whereas in the same period last year the Fund has no such transaction - The Fund had total revenue of Baht 22.80 million, compared with Baht 21.10 million from the same period last year, or an increase of 8.40% because of a slightly increase in occupancy rate. - The Fund's expenses was Baht 17.33 million compared with Baht 17.13 million in the same period last year, or an increase of 1.14% due mainly from higher repair & maintenance expense and property management from more tenants moving in . Kindly be informed accordingly. Yours faithfully, (Ms. Natree Panassutrakorn) Executive Vice President REIT, Property and Infrastructure Fund Department 02-649-2175 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.