A proposed merger between Mapletree Commercial Trust and Mapletree North Asia Commercial Trust will see their combined portfolio comprising of 18 commercial assets across Singapore, China, Hong Kong, Japan and South Korea, with assets under management of approximately $17.1 billion. Chua Su Tye, Head of REITs Research, Maybank Securities shares the possible strategic merits from increased AUM diversification and why shareholders are reacting differently to this merger.