Sias delves into the MCT-MNACT merger deal

THE managers of Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) took only 2 days to respond to questions about their proposed merger from the Securities Investors Association (Singapore), or Sias.

This quick turnaround might have been because many of the responses provided were related to the merits of the merger, which the the managers of MCT and MNACT have already been at pains to explain to the market.

Yet, their answers (and non-answers) to some of the questions from Sias, when carefully dissected, underscore why mergers of real estate investment trusts (Reits) that have common sponsors are not entirely about what's best for unitholders.