"The outgoing board did not consider the establishment of Denel Asia. In my opinion, if you would like to establish such a type of subsidiary in another country, there's a lot of market intelligence homework that needs to be done," she said.
In January 2016, the formation of Denel Asia was announced. It was described as a Hong Kong-based joint venture between Denel, which would control a 51% holding of the company, and VR Laser, which belonged to long-time Gupta ally Salim Essa. This came about six months after a new board was appointed at Denel by former public enterprises minister Lynne Brown.
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