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Cash-strapped Denel still firing financial blanks while...

Cash-strapped Denel still firing financial blanks while...
dailymaverick.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymaverick.co.za Daily Mail and Mail on Sunday newspapers.

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Ex Denel CEO brought Gupta's VR Laser into the fold, Zondo hears – The Citizen

Ex Denel CEO brought Gupta's VR Laser into the fold, Zondo hears – The Citizen
citizen.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from citizen.co.za Daily Mail and Mail on Sunday newspapers.

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South Africa: When Strong Institutions and Massive Inequalities Collide

South Africa: When Strong Institutions and Massive Inequalities Collide
carnegieendowment.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from carnegieendowment.org Daily Mail and Mail on Sunday newspapers.

United States , Kwazulu Natal , South Africa , Hong Kong , France General , United Kingdom , North West , Cape Town , Western Cape , Eastern Cape , New York , University Of Cape Town , Carnegie Endowment For International Peace , District Of Columbia , City Of , Comunidad Autonoma De Cataluna , Palo Alto , World Bank , South Africans , Republic Of South Africa , South African , Larry Diamond , Julius Malema , Emma Rumney , Nicolai Schulz , Ben Cripps ,

SIU looking at recovering some of the money paid by Denel to VR Laser Services

defenceWeb
Written by Guy Martin -
691
The Special Investigation Unit (SIU) is looking at recovering some of the funds paid by Denel to VR Laser Services following the irregular awarding of contracts to the company.
The SIU on 3 March gave a presentation to the Standing Committee on Public Accounts (SCOPA) on its investigation into Denel.
Denel’s relationship with steel cutting and armoured vehicle fabrication specialists VR Laser Services, and the subsequent establishment of Denel Asia with VR Laser, is one of the most controversial and damaging to Denel. “It was one of the Gupta companies that was involved in Denel at the time,” SIU lead investigator Zodwa Xesibe told SCOPA. ....

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Denel explains R1.9 billion loss in latest annual report

defenceWeb
Written by Guy Martin -
A Denel T5-52 in action.
Denel’s R1.962 billion loss for the 2019/20 financial year ending March was driven by liquidity constraints, poor programme execution, and delayed sales, the state-owned company’s latest annual report said, adding that little to no production activity further hurt the defence conglomerate.
Denel published its annual report on 1 February. The Johannesburg bourse had threatened to suspend the listing of Denel’s bonds if the arms manufacturer did not publish its results by the end of January.
According to the document, Group revenue reduced by 20% to R2.72 billion in 2019/20, compared with R3.4 billion in 2018/19, driven by liquidity constraints as Denel battled with low funds to meet all its operational requirements in the year. This impacted on the payment of suppliers, therefore on-time deliveries to customers, the annual report said. ....

South Africa , South African , Denel Asia , Talib Sadik , Monhla Hlahla , Denela Denel , African Police Service , Department Of Defence , Rheinmetall Denel Munition , Special Defence Account , Acting Group , South African Police Service , டெனல் ஆசியா , தலிப் சாதிக் , துறை ஆஃப் பாதுகாப்பு , சிறப்பு பாதுகாப்பு எண்ணுதல் , நடிப்பு குழு ,