MapleTree NAC Trust

[lzydata]

Mine is in CPF-OA. They say can use digibot. But I tried also cannot leh.

It's not out yet on CDP either. Maybe wait until after Monday and it will be out on both. And anyway there is some time for everyone to consider whether to participate - until 8 December.

Monday, 15 November 2021 - Despatch of NOE
Wednesday, 8 December 2021 - Unitholders and depository agents should have completed and returned the NOE to the Manager c/o CDP or submitted their instructions electronically
Friday, 24 December 2021 - Payment of cash distribution, crediting of DRP Units to Unitholders’ securities accounts and listing of DRP Units on the SGX-ST

https://links.sgx.com/FileOpen/MNACT_DistributionRD_28Oct21.ashx?App=Announcement&FileID=688577

 

[lzydata]

My dividend $342.60
DRP $0.963
355.76 shares
Current price $1.01
Odd lot is a problem.

As I posted here before, we can choose to take some units in scrip and some in cash, in the way that you end up with new units in the 100s. It can be worked out in Excel once we know the components of the distribution.

For this round:

Distribution out of tax-exempt income: 1.867 cents
Distribution out of capital: 1.559 cents
Total: 3.426 cents

Out of your 10000 units, suppose you take 5625 in scrip and 4375 in cash. Then your new units will be:

5625 x 0.01867 / 0.963 + 5625 x 0.01559 / 0.963 = 109 + 91 [each truncated, not rounded] = 200

Which works out to be 5625 x 0.03426 / 200 = 0.96356 per unit, very close to the DRP price.

The remainder you get in cash is 4375 x 0.03426 = $149.89.

You can also arrange it to get 300 new units but the price per new unit is a bit higher.

 

[Andrew833]

Mine is in CPF-OA. They say can use digibot. But I tried also cannot leh.

Same here, have to fill the form and bring to the DBS branch.

 

[Andrew833]

As I posted here before, we can choose to take some units in scrip and some in cash, in the way that you end up with new units in the 100s. It can be worked out in Excel once we know the components of the distribution.

For this round:

Distribution out of tax-exempt income: 1.867 cents
Distribution out of capital: 1.559 cents
Total: 3.426 cents

Out of your 10000 units, suppose you take 5625 in scrip and 4375 in cash. Then your new units will be:

5625 x 0.01867 / 0.963 + 5625 x 0.01559 / 0.963 = 109 + 91 [each truncated, not rounded] = 200

Which works out to be 5625 x 0.03426 / 200 = 0.96356 per unit, very close to the DRP price.

The remainder you get in cash is 4375 x 0.03426 = $149.89.

You can also arrange it to get 300 new units but the price per new unit is a bit higher.

Thanks alot but still very confusing haha.
My dividend $342.60
DRP $0.963
355.76 shares
If I want to get 300 new units, is it $342.60 - $288.90 = cash $53.70.
Therefore 300 new units + $53.70.
Thanks in advance.

 

[Andrew833]

how u check? cdp there?

If you use cash, check your CDP.
If you use CPF OA, wait for letter.
If it's not there, wait, they need so time to handle this.

 

[Andrew833]

can quote in %??? very hard to read : dpu (over mkt price)?


wat is DRP?

DRP mean Distribution Reinvestment Plan
DRP has to quote by on cents.
My post is for MNACT investors so no point quoting in percentage.

 

[dappermen]

Distribution Reinvestment Plan

tks learnt

 

[lzydata]

Thanks alot but still very confusing haha.
My dividend $342.60
DRP $0.963
355.76 shares
If I want to get 300 new units, is it $342.60 - $288.90 = cash $53.70.
Therefore 300 new units + $53.70.
Thanks in advance.

Yeah, unfortunately they do not make it easy for you where you can just say how many new units you want. Instead, you must put the number of units to take in scrip versus in cash.

From what I calculated, taking 8460 units in scrip and 1540 in cash will get you 300 new units plus $52.76 cash. So it is a little bit less than $53.70.

8460 x 0.01867 / 0.963 + 8460 x 0.01559 / 0.963 = 164 + 136 [truncated] = 300
1540 x 0.03426 = 52.76

But you should wait for the notice to come in the mail to confirm the formula, which they will state.

Of course, the other way is to take all in scrip and trust that MNACT will continue with their DRP. After a few rounds of participating, you may not have that odd lots problem.

 

[starbugs]

Thanks alot but still very confusing haha.
My dividend $342.60
DRP $0.963
355.76 shares
If I want to get 300 new units, is it $342.60 - $288.90 = cash $53.70.
Therefore 300 new units + $53.70.
Thanks in advance.

You calculated using the combined way, which will likely result in odd lots.

Like what Izydata explained, you have to perform the calculations for income and capital distributions separately, then add the units together to get a nice round (nearest 100) number.

I learned this the hard way in one of my previous DRP (for Cromwell).

 

[Andrew833]

Yeah, unfortunately they do not make it easy for you where you can just say how many new units you want. Instead, you must put the number of units to take in scrip versus in cash.

From what I calculated, taking 8460 units in scrip and 1540 in cash will get you 300 new units plus $52.76 cash. So it is a little bit less than $53.70.

8460 x 0.01867 / 0.963 + 8460 x 0.01559 / 0.963 = 164 + 136 [truncated] = 300
1540 x 0.03426 = 52.76

But you should wait for the notice to come in the mail to confirm the formula, which they will state.

Of course, the other way is to take all in scrip and trust that MNACT will continue with their DRP. After a few rounds of participating, you may not have that odd lots problem.

Thanks alot.

 

[YLieTat]

Yeah, unfortunately they do not make it easy for you where you can just say how many new units you want. Instead, you must put the number of units to take in scrip versus in cash.

From what I calculated, taking 8460 units in scrip and 1540 in cash will get you 300 new units plus $52.76 cash. So it is a little bit less than $53.70.

8460 x 0.01867 / 0.963 + 8460 x 0.01559 / 0.963 = 164 + 136 [truncated] = 300
1540 x 0.03426 = 52.76

But you should wait for the notice to come in the mail to confirm the formula, which they will state.

Of course, the other way is to take all in scrip and trust that MNACT will continue with their DRP. After a few rounds of participating, you may not have that odd lots problem.

Hi Izydata, how did you get the figure of 8460 to get 300 DRP units. Any formula you used like if I want 500 DRP units?

 

[mata_hippo]

jus got the mail

wad number shld i enter in sgx if i wan 95 or 195 shares?

calculate wrongly previously, that's why i end up with an odd 5 shares last round

i currently have 7105

 

[lzydata]

Hi Izydata, how did you get the figure of 8460 to get 300 DRP units. Any formula you used like if I want 500 DRP units?

It is best to do it as a spreadsheet in Excel so you can adjust the variables and see your results. The basic formula is:

x: to take as new units

truncate[(x * 0.01867) / 0.963]
+
truncate[(x * 0.01559) / 0.963]
=
no of new units

You should also have the total number of units, for the reason below.

jus got the mail

wad number shld i enter in sgx if i wan 95 or 195 shares?

calculate wrongly previously, that's why i end up with an odd 5 shares last round

i currently have 7105

If I remember correctly, SGX asks you to enter only one number - how many units you want to take in new units. For example, 5500. Then:

No of new units = (5500 * 0.01867 / 0.963) + (5500 * 0.01559 / 0.963) = 106 + 89 [truncated] = 195.
Cash = (7105 - 5500) * 0.03426 = 1605 * 0.03426 = $54.99.

For every desired number of new units, there is always a range of numbers you can enter. For example, instead of 5500, 5505 or 5515 also works. The key is to find the minimum number to take in new units, so that you take the maximum in terms of cash and it is not "wasted".

No of new units = (5515 * 0.01867 / 0.963) + (5515 * 0.01559 / 0.963) = 106 + 89 [truncated] = 195.
But cash = (7105 - 5515) * 0.03426 = 1590 * 0.03426 = $54.47 --> less.

Actually 5500 is not even the minimum, but I thought better not be too weird.

 

[starbugs]

The formula is already given by Izydata. Just to add: type the below into Excel where 8460 is the smallest number you need to get by trial and error to derive the number of new units you want:

=ROUNDDOWN(8460*0.01867/0.963,0)+ROUNDDOWN(8460*0.01559/0.963,0)

Another example: if you want 195 units, the magic number to indicate in your form is 5498

 

[mata_hippo]

ok got it, so it's the minimum number possible units to get 195 for my case

thanks

 

[YLieTat]

It is best to do it as a spreadsheet in Excel so you can adjust the variables and see your results. The basic formula is:

x: to take as new units

truncate[(x * 0.01867) / 0.963]
+
truncate[(x * 0.01559) / 0.963]
=
no of new units

You should also have the total number of units, for the reason below.



If I remember correctly, SGX asks you to enter only one number - how many units you want to take in new units. For example, 5500. Then:

No of new units = (5500 * 0.01867 / 0.963) + (5500 * 0.01559 / 0.963) = 106 + 89 [truncated] = 195.
Cash = (7105 - 5500) * 0.03426 = 1605 * 0.03426 = $54.99.

For every desired number of new units, there is always a range of numbers you can enter. For example, instead of 5500, 5505 or 5515 also works. The key is to find the minimum number to take in new units, so that you take the maximum in terms of cash and it is not "wasted".

No of new units = (5515 * 0.01867 / 0.963) + (5515 * 0.01559 / 0.963) = 106 + 89 [truncated] = 195.
But cash = (7105 - 5515) * 0.03426 = 1590 * 0.03426 = $54.47 --> less.

Actually 5500 is not even the minimum, but I thought better not be too weird.

Thanks Izydata

 

[chiokcc]

For 20k shares, opt to use 16867 shares to receive 600 shares .....

(16867 x 0.01867)/0.9630 + (16867 x 0.01559)/0.9630
= 327.00 + 273.06 => 600

 

[starbugs]

For 20k shares, opt to use 16867 shares to receive 600 shares .....

(16867 x 0.01867)/0.9630 + (16867 x 0.01559)/0.9630
= 327.00 + 273.06 => 600

You can go higher than that.

Use 19704 to receive 700 units

Anyway, I have generated the list of total units to select to obtain units to the nearest 100.

Elect...to get
2837 100
5623 200
8460 300
11245 400
14082 500
16867 600
19704 700
22489 800
28112 1000
30947 1100
33734 1200
36569 1300
39356 1400
42190 1500
44978 1600
47811 1700
50601 1800
53432 1900
56223 2000

Please verify these numbers and use at your own risk!

 

[chiokcc]

You can go higher than that.

Use 19704 to receive 700 units



Please verify these numbers and use at your own risk!

Good idea!

19703 => 699
19704 => 700
19705 => 701

 

[lzydata]

You can go higher than that.

Use 19704 to receive 700 units

Anyway, I have generated the list of total units to select to obtain units to the nearest 100.

Elect...to get
2837 100
5623 200
8460 300
11245 400
14082 500
16867 600
19704 700
22489 800
28112 1000
30947 1100
33734 1200
36569 1300
39356 1400
42190 1500
44978 1600
47811 1700
50601 1800
53432 1900
56223 2000

Please verify these numbers and use at your own risk!

When I have 56223 or more units, I will stop worrying about the odd lots problem