Audrey International is to sell its Vietnam lingerie making subsidiary, Lilian Body Fashion Industry (VN) Co Ltd, to Essential Pearls Sdn Bhd.

The sale proceeds will be used as part of the working capital for the group, Audrey International said in a statement - adding that it expects to make a loss of RM469,517 from the disposal.

The group, which accumulated losses of RM469,517 to 31 May 2002, is currently consolidating its manufacturing operations and placing greater emphasis on trading and retailing activities.