About us Fusionex is a world, multi-award profitable details technological know-how company with a solid worldwide existence. Fusionex works with quite a few fortune five hundred clients in America, Europe as well as the Asia Pacific area, bringing ground breaking and breakthrough Thoughts and alternatives to its purchasers.

The intention was to boost, obtain and protected new shopper bases, systems and know-how utilising the methods that Fusionex had cultivated within the Asian region.

Hitachi placed five of its executives as non-govt directors to the board with Ivan and his CFO, Chen Chiang as government directors.

They've got gone to court docket but it really needs to go through a Listening to ahead of nearly anything normally takes area. So I’m unsure when the hearing is going to occur. All of this is completed by Hitachi’s legal professionals.”

As outlined by a seasoned attorney knowledgeable about liquidation matters, “Hitachi, as the sole shareholder, could have retained its winding up petition in a basic and superficial level.

The catalyst for The present problem commenced when Hitachi, as part of its threat management and corporate governance where it conducts an inside audit of its subsidiaries every three many years, gave Ivan recognize in Aug 2022 that it intended to do an audit on Fusionex Group and Fusiotech Holdings in March 2023.

“Only then we will see out the cause of the investigation. Anything at this point of your time is extremely speculative till the investigation is entire.

“There are actually truths, fifty percent truths and many untruths of the varied opinions and speculations to choose from. I would declare that we give Ivan some Place and in the event the dust settles, We'll know far more,” reported The chief.

It truly is a surprising fall, with no parallel in Malaysia’s tech record. A lot more so, as Ivan may be the closest thing to currently being the golden boy for Malaysian tech, developing a company to compete inside the company tech House towards world tech gamers.

However, this was sufficient for Hitachi’s lawyers to realise that the ‘Federal government Directive’ was basically a general letter reminding the recipients to training caution and stay clear of breaching any legal guidelines in relation on the disclosure of information to third events and foreigners.

“Only then we will find out the reason for the investigation. Anything at all at this stage of time is highly speculative right until the investigation is comprehensive.

Hitachi courtroom petition to wind up Fusionex, expose grim photograph of alleged unethical and irresponsible perform by Ivan Teh use this link and his senior Management

The drastic phase was activated from the abrupt departure of Fusionex founder, Ivan Teh, and his senior Management, leaving the corporation's operations in a very point out of confusion.

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