Mapletree North Asia Commercial Trust (MNACT) has just changed their mandate and immediately announced a new acquisition. This is a very good piece of news for shareholders as this allows MNACT to acquire assets from a wider range of countries. In this article, I’ll be talking about the new mandate change and the proposed acquisition.
What’s The New Mandate?
On the 25th of September, MNACT announced to shareholders that they have expanded their investment mandate to include South Korea.
The new mandate will now allow MNACT to invest, directly or indirectly, in a diversified portfolio of income-producing real estate in the Greater China region, Japan and now, South Korea. These properties will be primarily for commercial purposes (including real estate used predominantly for retail and/or office purposes).
Why Does It Matter?
The expansion of the mandate is in line with the Manager’s key financial objectives to provide shareholders an attractive rate...