SOUTH AFRICA: Problems Persist At Tolaram Textile Firm
The future of cash-strapped textile company Tolaram 2000 still hangs in the balance. Last week directors of the Cape Town-based, Singaporean controlled textile group referred inquiries about the status of the company to the Industrial Development Corporation (IDC). But Neo Sowazi, IDC corporate affairs vice-president, said on Friday the corporation was unable to comment as certain legal proceedings were underway to protect the IDC's investment in Tolaram.