MCT - MNACT Proposed Merger New Option - Full Cash

I have previously written about the proposed merger between Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) here.

In that post I also included some calculations to gauge which was the best option for me based on the original two options offered by MCT namely

 

Option 1: Cash + Scrip

 

Option 2: 100% Scrip

 

At that point of writing, option 1 was the best for me as it offered the highest cash value then.

 

Today, a third option has been given to MNACT unitholders which is

Option 3: 100% Cash

More details can be found here.

With option 3, MNACT unitholders can receive $1.1949 for each MNACT unit he or she possesses.

This is clearly the best option for me right now. Based on my holdings of 4,000 units of MNACT and the current MCT share price of $1.88, the return in terms of cash value for the three options are as follows.

Option 1: $4,531.57

Option 2: $4,484.18

Option 3: $4,779.60

Option 3 would give me a return of around 27.5% including dividends collected over the years. Not too bad I would say.

For now my plan is to monitor the share price of MNACT closely for the next couple of months. If the open market price goes above $1.1949 I would likely offload my MNACT units in the open market.

At current point of writing, MNACT is trading at $1.18 and testing $1.19.

MCT is trading at $1.88 after opening at $1.95.

Quick Glance of Ascendas & Mapletree Family Reits Charts

Was monitoring my watch list just now and spotted quite a few opportunities so decided to take a glance at the respective charts.

 

Just sharing in case this is helpful to others too.

Ascendas Reit

At present price, yield is about 5.2% which makes it tempting. However a quick look at the chart reveals that the price has broken through all the moving averages. Furthermore the short term MAs have crossed under the longer term MAs with big fat red candles. Probably has more room to fall.

 

Will be keeping a close look at this counter and interesting to see how it closes today.

 

Mapletree Commercial Trust

 

Another counter which has fallen through all the MAs. However price seems to be consolidating near the $1.82 region which yields about 5.2%.

 

If the consolidation continues, an uptrend might be possible.

 

Was initially considering adding this or Ascendas Reit (when it was at 5.1% yield). At present moment the latter seems more tempting especially if it falls further and I've always preferred Ascendas Reit's assets over MCT's.

 

Mapletree Industrial Trust

 

Nice looking ladder formation. Almost looking like a double top or is it? Looking forward to $2.51.

 

Mapletree Logistics Trust

 

One of my favourite if not favourite, Mapletree counters. Solid assets with historical trend of rising dividends.

Aligned with my view that future world will be driven by tech, logistics and clean energy.

 

Ugly chart. Seems like collateral damage from the MCT & MNACT merger fallout. Share price has fallen below the recent preferential offering price.

 

Looking forward to further drop so I can scoop more.

 

Mapletree North Asia Commercial Trust

 

MNACT is the only one that seems to buck the bearish trend. It hit a high of $1.15 earlier this month before consolidating back at the $1.09 - $1.10 levels.

 

Uptrend still intact based on MAs though 5 MA has crossed under 10 MA today. Would be interesting to see the closing today for the possibility of a short term dip.