14 May 2020 12:43:00
Management Discussion and Analysis Quarter 1 Ending 31 Mar 2020
Management Discussion and Analysis Company name : MULTI-NATIONAL RESIDENCE FUND Year : 2020 Quarter : Quarter 1 Ending : 31-Mar-2020 Note : Ref: MFC PT. 40/2020 May 14, 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 the three-month period ended 31 March 2020 over 20% from the same period last year as follow. For the three-month period ended 31 March 2020, the Fund had net gain from investments of Baht 2.67 million from a net loss on investments of Baht 2.67 million in the same period last year, or an increase of 200.15%. The main reason was due to the followings. - During the three-month period ended 31 March 2020 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 0.89 million whereas in the same period year 2019 the Fund has recognized an unrealized loss of Baht 4.98 million. - The Fund has revenue of Baht 7.23 compared with Baht 8.02 million from the same period last year, or a decrease of 9.92% due to the a little bit lower occupancy rate compared to last year. - The Fund has total expenses of Baht 4.27 million, decreasing from 6.37 million from the same period last year, representing a 33.01% decrease due to some expense decrease over the last year such as repair and maintenance expense. Kindly be advised 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.