State arms manufacturer Denel says it will continue to engage National Treasury to ensure that "misunderstandings" about the Asia joint venture is resolved. This follows a Sunday Times reports that Finance Minister Malusi Gigaba had met with Denel board chairman Daniel Mantsha in Durban and demanded that the company withdraw its court application against Treasury. The newspaper also reported that Gigaba had insisted Denel Asia be dissolved. Denel has lodged an application with the High Court in Pretoria in a bid to have its joint venture with Gupta-linked VR Laser Asia approved, despite the Treasury, under former finance minister Pravin Gordhan, not giving it permission, as required by the Public Finance Management Act. On Tuesday, Denel confirmed that Mantsha met with Gigaba but did not divulge what was discussed. It is still not clear if Denel will withdraw the court application. The company said there would be a follow-up meeting between Mantsha, Gigaba and Public Enterprises Min...
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