The Board of Directors of DPS (“Board”) wishes to announce that the Company has on 19 October 2022 acquired one ordinary share issued at RM1.00 for a cash consideration of RM1.00 in the capital of SUMMER STARHILL SDN BHD, Registration no. 202201034628(1480325-M) (“Summer Starhill”) ("the Acquisition").

Summer Starhill is a private limited company incorporated in Malaysia under the Companies Act 2016 on 19 September 2022 with an issued and paid-up capital of one (1) ordinary share issued at RM1.00 only.

The principal activity of Summer Starhill is manufacturing of furniture and roof truss, provision of kiln-drying services and trading in furniture and carry on business on construction services, real property and housing development related services. Subsequent to the aforesaid acquisition of shares, Summer Starhill will become a wholly owned subsidiary of DPS.

The Acquisition will not have any effect on DPS’s share capital and substantial shareholders’ shareholding and is not expected to have any material effect on the earnings per share, net assets per share as well as the gearing in the Company for the financial year ending 31 March 2023. 

The Acquisition is not subject to the approval of the shareholders of the Company or any other regulatory authorities.

None of the Directors and/or substantial shareholders of  the Company, and/or persons connected with them have any interest, direct or indirect, in the said acquisition of the one share in Summer Starhill.

This announcement is dated 6 December 2022.