News Detail

Date/Time
14 May 2020 12:43:00
Headline
Management Discussion and Analysis Quarter 1 Ending 31 Mar 2020
Symbol
MNRF
Source
MNRF
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                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
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