Embattled state-owned arms manufacturer Denel, which is struggling to pay staff salaries, says it will defend a liquidation bid from Saab Grintek Defence if necessary, but will seek to resolve the payment dispute amicably.
Saab has made R126m in claims relating to a contract for the production of fire-control computers for vehicles. Denel, one of the many state-owned enterprises that have been embroiled in allegations of state capture, has been running at a loss for years, most recently reporting a loss of R1.9bn in the year to end-February.
It has also struggled to pay salaries, with the DA arguing that Denel should be put into business rescue.
Source: Law Daily Report (lawdailyreport.net)
Rather spend that money on paying salaries..?
Relieve it of its suffering, pse, like most SOEs
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Brazilian agribusiness and forest protection in the Amazon don't have to be at oddsIt's possible and necessary to improve the Brazilian agribusiness industry while preserving the environment, a study finds
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: eNCA - 🏆 49. / 51 Read more »
New Zealand not carrying scars into final of Test championship, says skipperIt’s a different side from the one that lost by a whisker against England in the World Cup in 2019, says Kane Williamson
Source: BDliveSA - 🏆 12. / 63 Read more »
Mushrooming T20 leagues a threat to international game, says Faf du PlessisThe proliferation of domestic T20 leagues poses a threat to international cricket and the game must find a way to balance both, according to faf1307 IOLsport
Source: IOL - 🏆 46. / 51 Read more »
The ECB has bigger problems than inflationRuinous deflation is still the bigger threat to EU stability.
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: eNCA - 🏆 49. / 51 Read more »