Denel set on expanding business in Asia-Pacific region

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 technology conglomerate in 2015 entered a multibillion-rand deal with Gupta-linked VR Laser Asia, which led to the creation of Denel Asia.