KUALA LUMPUR (Nov 5): Dolphin International Bhd, a manufacturer of palm oil milling machinery, says today it will defer plans to diversify its core business to include construction and property development, to a later date but did not give any reasons.

In March, the group announced that it intends to diversify and expand its existing principal business activities to include construction and property development in order to enhance its prospects.

It said the proposed diversification may contribute 25% or more of the group's net profit in the future.

In a filing with Bursa Malaysia today, Dolphin said it will, however, proceed to dispose of two parcels of land and a 1 1/2 storey semi-detached factory in Puchong, Selangor, for RM5 million to LYL Engineering Sdn Bhd, will proceed before end December.

"Further announcement will be made on the development of the proposal disposal accordingly," it added.

Dolphin shares closed unchanged at 11.5 sen today, with 540,900 shares done, bringing a market capitalisation of RM28.08 million.