CWT (C14.SG) +3.6% at $1.01 in active trade, above $1.00 for first time since April, as logistics group offers special interim dividend of $0.06/share following sale of 2 industrial properties earlier this year to Cache Logistics Trust (K2LU.SG), which listed in April, according to Dow Jones.

One-time gain of $147.6 million from divestment boosted CWT's 2Q10 earnings to record $154.4 million vs $8.7 million year earlier. Excluding gain, operating profit down 16.5% at $8.8 million on lower margins due to higher start-up costs for new projects.

Dividend, results announced during midday break. DMG says operating performance below expectations, but expects organic growth to continue, aided by construction of 5-storey warehouse in Singapore to be completed by 2H11; reviewing Buy call, $1.10 target given 12% run-up in past week.

Orderbook quotes suggest minimal upside beyond $1.03.