According to the information received from Denel:
1(a) Technically Skilled lost in past 3 Financial years = 173
1(b) Total number of technically skilled currently employed = 157
2.(a)- (b) details of the tenders that Denel Vehicle Systems (DVS) finalised in term of due process in the past financial years are mentioned in Annexure 1.
3. The business has existing contracts with customers and are at the different stages. These are shown in Annexure 2: DVS Existing contracts. Along with these are the opportunities at varying stages:
(a) DVS has submitted a number of proposals to various potential clients but none are at the stage of being finalised;
(b) The new opportunities are valued at R700 million;
(c) DVS would seek project financing from corporate office, alternatively it would be asking clients to pay for material directly to suppliers where possible.
(d) The business is financially strained and cannot meet short to medium term financial obligations.
4. Financing of Programmes
(a) DVS is not in a position to raise any capital to finance these contracts due to liquidity challenges;
b) DVS is seeking external sources to finance existing programmes as well as the potential contracts.