CWT (C14.SG) +3.8% at almost 4-week high $0.945 on hopes logistics group may join growing list of companies being taken private in past months, including Design Studio Furniture (D11.SG), Low Keng Huat (F1E.SG), MCL Land (M25.SG), says Dow Jones.

“CWT could be next in line to join the privatization wave, given its ownership structure as well as its undervalued stock price,” says Kim Eng Securities; has Buy call with $1.33 target. Notes CWT, 53.5% owned by C&P Holdings and related parties, has stake in Cache Logistics Trust (K2LU.SG), Singapore's largest new listing so far this year, “with the entry of Cache REIT as a divestment platform, it may now make sense for C&P Holdings to consolidate its business with CWT. Under this scenario, it could seek to privatize CWT.”

Resistance at high end of $0.94-$0.99 break-down gap formed last month.