About fusionex
About fusionex
Blog Article
It's a stunning fall, devoid of parallel in Malaysia’s tech background. Much more so, as Ivan would be the closest matter to getting the golden boy for Malaysian tech, creating a firm to compete within the organization tech space against global tech gamers.
Many expressed shock and disbelief that not just Ivan, but users of his leadership team could behave in this sort of an unprofessional, unethical and irresponsible method. “If This is certainly real, And that i Actually come across it challenging to feel, then they may have opened them selves to authorized action from Hitachi and in some cases feasible censure through the Specialist bodies They may be members of,” claimed 1 tech ecosystem chief with a robust corporate background.
It is also not recognised if Hitachi has reached out to any buyers to support them, while such efforts are Obviously handicapped by it not being aware of who Fusionex’s prospects even are outside of the large ones in which the contract wins had been accompanied by media releases.
“You will discover truths, fifty percent truths and several untruths of the different views and speculations in existence. I'd mention that we give Ivan some House and in the event the dust settles, We're going to know extra,” explained The chief.
Hitachi courtroom petition to wind up Fusionex, expose grim picture of alleged unethical and irresponsible perform by Ivan Teh and his senior leadership
Rather, Using the court docket previously appointing interim liquidators from Deloitte Restructuring Companies PLT on 27 Dec, agreeing with Hitachi’s argument that the dire problem Fusionex faces requires urgency, the anxiety is always that get more Fusionex will stop to exist, with the sole remnants staying its billboards within the Klang Valley, waiting to generally be taken down at the same time.
The AIM guidelines require that cancellation of admission to buying and selling on Intention have to have seventy five% of shareholders to vote in favour instead of an easy greater part of fifty one%. The superior threshold ensures a fair diploma of minority shareholders to assistance the training also.
In the meantime DNA has learnt that a previous Fusionex task supervisor for An important government account has reached out to the government company to reassure them that their Fusionex designed and run platform will be taken care of and stored running easily put up Fusionex.
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Yet again, Hitachi’s lawful crew had been refused a duplicate from the ‘Govt Directive’ and only allowed to seem at why not find out more it visually without using any notes.
There's current market chat that Ivan has an curiosity in the business Even though his identify won't show up like a shareholder or director and an individual aware of V-Circle tells DNA that Ivan has little interest in the corporation.
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But, aiming to help you take care of the issue, Hitachi established out some pre-circumstances for Ivan to acquire funding from it, which provided: