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Denel ends controversial Asia joint venture

By: Keith Campbell     8th September 2017 South Africa's State-owned Denel defence industrial group has exited the Denel Asia joint venture (JV) company. This was announced on by Denel acting Group CEO Zwelakhe Ntshepe, addressing the recent media briefing about the company's financial results, at the group's head office in Centurion,... 

Denel exits controversial Asia joint venture

By: Keith Campbell     25th August 2017 South Africa's State-owned Denel defence industrial group has exited the Denel Asia joint venture (JV) company. This was announced on Friday by Denel acting Group CEO Zwelakhe Ntshepe, addressing a media briefing (about the company's financial results) at the group's head office in Centurion,... 

Finance Minister Gigaba continues to oppose Denel Asia deal

By: Keith Campbell     26th May 2017 The National Treasury on Friday reaffirmed, in a press release, that Finance Minister Malusi Gigaba continues to oppose the proposed joint venture between the State-owned Denel defence industrial group and VR Laser Asia, intended to create a company called Denel Asia. The press release was issued... 

Denel contradicts Gigaba’s reported stance on VR Laser Asia

By: African News Agency      24th May 2017 Denel on Wednesday contradicted reports that Finance Minister Malusi Gigaba had ordered the State-owned arms manufacturer to dissolve its controversial joint venture with VR Laser Asia, a company linked to the Gupta business empire, and withdraw its litigation against National Treasury for... 

Denel set on expanding business in Asia-Pacific region

By: Megan van Wyngaardt     23rd May 2017 State-owned Denel on Tuesday said it was dead set on expanding its business in the Asia-Pacific markets, despite an affidavit, lodged by former Treasury director-general Lungisa Fuzile, stating that its joint venture (JV) partner is a technically insolvent company. The aerospace and defence... 

Denel says it continues talks with National Treasury over Denel Asia JV

By: Megan van Wyngaardt     16th May 2017 State-owned aerospace and defence technology conglomerate Denel on Tuesday said it was in ongoing talks with Finance Minister Malusi Gigaba and Public Enterprises Minister Lynne Brown regarding its multibillion-rand joint venture (JV) deal with VR Laser Asia, which led to the creation of Denel... 

I’m unashamedly encouraging mass mobilisation, says Gordhan

By: African News Agency      1st April 2017 A defiant former Finance Minister Pravin Gordhan on Saturday encouraged mass mobilisation in the wake of President Jacob Zuma’s much maligned Cabinet reshuffle that saw him and his deputy Mcebisi Jonas fired along with several other ministers. Speaking at a memorial service in Johannesburg for... 

Denel heads to court to dispel doubts over legality of Denel Asia JV

By: Natasha Odendaal     24th March 2017 Denel has taken to the High Court of South Africa in Gauteng to clear up doubts over the legal standing of Denel Asia, a joint venture (JV) with VR Laser Asia. The State-owned defence group on Friday applied to the High Court in Pretoria for an order declaring that it obtained approval to form... 

Denel defies Treasury on VR Laser 

By: African News Agency      31st August 2016 The National Treasury on Wednesday declined to be drawn into a public spat with Denel after the State-owned defence conglomerate publicly defied and accused it of political “grandstanding” for trying to stop a joint venture company linked to the controversial Gupta family, Denel Asia. This... 

Denel Asia confirmed as Denel Group looks to the East for markets

By: Keith Campbell     24th August 2016 Denel acting CFO Odwa Mhlwana has confirmed that the creation of Denel Asia, a joint venture with South African private-sector company VR Laser, has been approved by the relevant governmental authorities. Furthermore, they have agreed that nothing wrong was done in setting up the company, which... 

South East Asia venture 'part and parcel' of Denel’s growth strategy

By: Samantha Herbst     11th May 2016 Continuing to defend its joint venture (JV) with steel manufacturing group VR Laser Services to establish Denel Asia, State-owned defence industrial group Denel told the Portfolio Committee on Public Enterprises in Parliament on Wednesday that its decision to extend its business footprint in... 

Denel’s Venture In South East Asia Forms Part Of Global Growth Strategy

     11th May 2016 Denel is increasingly looking at export sales including in the rapidly-expanding Asia-Pacific region -- in terms of its mandate to create a financially self-sustainable defence business, Mr Odwa Mhlwana, acting Group Chief Financial Officer, told the Portfolio Committee on Public Enterprises in... 

Denel tells Gordhan: We are not arrogant and belligerent 

By: News24Wire      5th May 2016 Denel’s board said Finance Minister Pravin Gordhan’s accusation that the board and executives are “arrogant and belligerent … are unsubstantiated, baseless and unfounded”. Gordhan made the accusation during his Treasury budget debate in Parliament on Wednesday. This follows a statement in April,... 

Gordhan tells Denel to stop being ‘arrogant’ 

By: African News Agency      4th May 2016 Finance Minister Pravin Gordhan on Wednesday termed Denel, which is at loggerheads with National Treasury over a joint venture with a company linked to the Gupta family, arrogant and belligerent. “One of the tendencies that we are noting in recent times is that when boards are beginning to do... 

Brown wants high cost of coal to Eskom investigated 

By: Terence Creamer     26th April 2016 Public Enterprises Minister Lynne Brown argued in Parliament on Tuesday that, as a 60% offtaker of coal in South Africa, Eskom should be in a position to command better coal prices and lamented the fact that the State-owned utility’s coal costs were rising at levels above inflation. “I am well... 

Denel Asia's problems mount

By: News24Wire      26th April 2016 Denel Asia's problems mounted on Monday after it emerged that it had not applied for a permit to the National Conventional Arms Control Committee (NCACC), Minister in the Presidency Jeff Radebe said "The NCACC would appreciate any evidence or information relating to such an application as this... 

Nothing wrong in working with legal businesses, even with the Guptas – Denel

By: News24Wire      25th April 2016 There is nothing wrong in working with any registered, legally trading business in South Africa, whether it's with the Guptas or others, the Denel board of directors said on Saturday. This follows allegations that the board “brought the Gupta family into Denel”. City Press reported last week that... 

Denel says it seeks to resolve 'misunderstandings' with National Treasury

By: Keith Campbell     14th April 2016 State-owned defence industrial group Denel issued a press release on Thursday stating that it will continue to discuss with National Treasury the issue of its joint venture with private sector South Africa company VR Laser, to create a Hong Kong-based company to be called Denel Asia, to resolve... 

Denel grilled over Gupta-linked joint venture 

By: News24Wire      17th February 2016 Denel’s top management insisted on Wednesday that no law has been broken and that all its decisions and activities on the controversial VR Laser joint venture deal took place within the Public Finance Management Act (PFMA). Denel chairperson Daniel Mantsha told MPs in the Select Committee on... 

Door still open to controversial Denel Gupta deal 

By: News24Wire      16th February 2016 A joint venture with Denel which has attracted controversy because of its links to the influential Gupta family is not yet a done deal, the Department of Public Enterprises said on Tuesday. “There are still other conditions to be met before final approval can be granted,” Colin Cruywagen,... 

Denel sets up new international joint venture in Asia

By: Keith Campbell     12th February 2016 South Africa’s State-owned defence industrial group, Denel, has set up another international partnership, based in Hong Kong. This new subsidiary is Denel Asia and it is a joint venture (JV) with South African private sector company VR Laser.  

Solidarity calls on Public Protector to probe Gupta, Denel partnership

By: Creamer Media Reporter      10th February 2016 Trade union Solidarity on Wednesday called on Public Protector Thuli Madonsela to investigate South Africa’s State-owned defence industrial group Denel’s new joint venture (JV) Denel Asia’s link to the Gupta family. The JV, established in Hong Kong in partnership with South African private-sector... 

Denel creates a second international joint venture company

By: Keith Campbell     29th January 2016 South Africa’s State-owned defence industrial group, Denel, has set up another international partnership, based in Hong Kong. This new subsidiary is Denel Asia and it is a joint venture (JV) with South African private sector company VR Laser. “This is a vitally important region for Denel to... 

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