Stocks to watch: MCT, MNACT, Dasin Retail Trust, Asia-Pacific Strategic Investments, Darco

THE following companies saw new developments that may affect trading of their securities on Monday (Mar 21):

N2IU and RW0U : THE managers of MCT and MNACT on Monday said they are now offering MNACT unitholders the option to receive the entire scheme consideration of their proposed merger, of S$1.1949 per unit, wholly in cash. MCT will also make a preferential offering of S$2.0039 per unit to fund the additional cash requirement of up to S$2.2 billion. On Friday, units of MCT closed up S$0.01 or 0.5 per cent at S$1.89, while units of MNACT closed flat at S$1.12.

CEDU : The real estate investment trust's (Reit) trustee-manager said on Sunday that it has entered into a non-binding memorandum of understanding for the potential divestment of 2 of its retail properties - Shiqi Metro Mall and Xiaolan Metro Mall. Net proceeds from the sale of the properties are expected to be used to repay the trust's existing syndicated loans, with the remainder to be used for working capital purposes. Its unit price closed 3.3 per cent higher on Friday, or S$0.01 at S$0.31.

Asia-Pacific Strategic Investments 5RA : The real estate developer said on Friday that it has entered into a non-binding heads of agreement with Catapult Ventures for the full acquisition of personal financial marketplace MoneySmart for a price tag of US$161.7 million. If completed, the acquisition is expected to result in a reverse takeover of the company, subject to the approval of its shareholders and the Singapore Exchange Securities Trading. Its share price jumped 100 per cent at Friday's close, going up by S$0.001 to S$0.002.

BLR : The mainboard-listed company on Monday said it will not proceed with an investment in the alternative water treatment asset proposed by its former non-executive deputy chairman Wang Zhi. Shares of Darco Water last traded at S$0.13 on Mar 14.

Trading halts:

J91U and K2LU : Both Reits will be holding extraordinary general meetings on Monday to vote on their proposed merger by way of a trust scheme arrangement. On Friday, the unit prices of ESR-Reit closed lower 2.3 per cent or S$0.01 at S$0.42, while those of Ara Logos Logistics was down 0.6 per cent or S$0.005 at S$0.825.

Separately, ESR-Reit called for a trading halt on Monday, pending the outcome of the vote, which will be held at 10 am. Ara Logos Logistics also requested for a trading halt on Monday, pending the results of its extraordinary general meeting to be held at 3pm.