24 Feb 2020 19:17:00
Management Discussion and Analysis Yearly Ending 31 Dec 2019
Management Discussion and Analysis Company name : MULTI-NATIONAL RESIDENCE FUND Year : 2019 Quarter : Yearly Ending : 31-Dec-2019 Note : Ref: MFC PT. 008/2020 February 24, 2020 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 year ended 31 December 2019 over 20% from the same period last year as follows; For year 2019, the Fund had net loss from investments of Baht 36.04 million, decreasing from net loss from investments of Baht 2.31 million in 2018, or a decrease of 1,463.12%. The main reason was due to the followings. - During year 2019, the Fund has revalued the fair value of investment in property and also the Fund had sold condominium units totaling 17 units, the fair value of the appraisal value and the sold units have to be adjusted, resulted in an unrealized loss on investment of Baht 46.30 million whereas in 2018 the Fund had unrealized from revaluation and sold units amounted to Baht 8.03 million. - The Fund had total revenue of Baht 30.34 million, compared with Baht 29.09 million in 2018, or an increase of 4.30% due to a slightly increase in occupancy rate. - The Fund's expenses was Baht 22.12 million compared with Baht 24.69 million in 2018, or a decrease of 10.39. Kindly be informed accordingly. Yours faithfully, (Ms. Natree Panassutrakorn) Executive Vice President REIT, Property and Infrastructure Fund Department 02-649-2000 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.