Almost 6,000 workers are feared to loose the jobs as Ramatex Bhd is about to close down its manufacturing unit in Namibia.
Ramatex Chief Executive Officer, Albert Lim Poh Boon, said that Board had asked its members to meet all the Namibian stakeholders.
Albert also said that this is the only option left between Ramatex and Namibian stakeholders.
Nahas Angula, Prime Minister of Namibia and Albert Lim CEO, Ramatex headed the negotiation.
Namibian Government has formed a special committee to examine the negotiation and the options provided by Ramatex.
Ramatex registered net sales of RM1.44 billion with net income of RM70.7 million for the financial year ended December 31, 2005.
Armed Forces Fund, Lembaga Tabung Angkatan Tentera (LTAT) own around 5 percent in Ramatex.
Ramatex's operations in Namibia are spearheaded by its 100 per cent unit, Ramatex Textiles Namibia (Proprietary) Ltd, which is involved in manufacturing yarn, knitting, dyeing and printing of fabrics.
The textile goods manufactured by Ramatex in Namibia are exported to the US as the tiny African nation enjoys preferential access to the US market under the African Growth and Opportunity Act launched in 2002.
Namibian Government is worried about Ramatex close down as company contributes as much as 1 percent to country's Gross Domestic Product (GDP).
Ramatex also helped Namibia to develop country's transport sector, with around 300 Ramatex containers per month being railed between Windhoek and the port of Walvis Bay, 370km away.
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