DPS Resources Bhd will dispose of its wholly-owned unit, Hidayat Yakin Sdn Bhd (HYSB), to Syed Murthadha Abu Bakar Alhabshi for RM5.29 million.

In a filing to Bursa Malaysia today, DPS said upon the completion of the disposal, HYSB would cease to be a unit of the company.

DPS said the aim of the disposal was to streamline and rationalise the core business to enable the group to focus on its core business of furniture manufacturing while enhancing its liquidity and strengthening financial position.

"The disposal is envisaged to be completed by the third quarter of the financial year ending March 31, 2013," it said. -- Bernama