It's a shocking tumble, with out parallel in Malaysia’s tech historical past. More so, as Ivan is the closest issue to remaining the golden boy for Malaysian tech, building a corporation to compete while in the company tech House against world wide tech gamers.
Because it was detailed on AIM, and excluding the worldwide enterprise tech gamers, Fusionex has grown into one of many larger massive knowledge answers providers in Asia. Its clientele has also amplified immensely.
Hitachi court petition to end up Fusionex, expose grim image of alleged unethical and irresponsible perform by Ivan Teh and his senior Management
An ecosystem chief informed about the contents of Hitachi’s winding up petition didn't mince his opinion of your alleged behaviour by Ivan and his Management workforce.
“This conclusion stems in the insurmountable difficulties arising from the insufficient handover of information and information by the prior administration, which proficiently left Hitachi with none form of information concerning the management, functions, and continuity on the enterprise of Fusionex Team,” he said.
It truly is believed that other ex-Fusionex executives have also been reaching out to vital governing administration and private sector purchasers likewise, assuring them of assist even though It's not distinct by which business.
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Hitachi put 5 of its executives as non-govt administrators over the board with Ivan and his CFO, Chen Chiang as govt administrators.
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“Only then we will find out the reason for the investigation. Something at this point of your time is extremely speculative until finally the investigation is entire.
They have long gone to courtroom nevertheless it must experience a hearing before anything click this will take area. So I’m unsure in the event the hearing will almost certainly happen. All of this is done by Hitachi’s attorneys.”
Fusionex is the one ASEAN-based mostly corporation being highlighted in equally studies, cementing its credentials in the data technologies market for this location.
A few days afterwards the inhouse authorized counsel for Fusionex confirmed Hitachi’s attorneys a duplicate of A different ‘government directive’ dated 27 Nov which presupposed to prohibit Fusionex from sharing any details While using the audit committee.
intends to wind up. See table.) also to empower a true and fair evaluation on the earnings and loss accounts and balance sheets.”
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