Despite the advancement, the business's stock has remained mainly flattish in the last fifteen months (aside from the current tumble).   

Hitachi court docket petition to end up Fusionex, expose grim image of alleged unethical and irresponsible conduct by Ivan Teh and his senior Management

As of publishing of this informative article, Ivan has not responded to DNA queries to receive his side of the Tale.

“The earlier senior management departed the company straight away without any sort of handover of your administration plus the functions.

Hitachi positioned 5 of its executives as non-executive directors over the board with Ivan and his CFO, Chen Chiang as executive directors.

An govt through the company tells DNA, “We want to hold out for more clarity on what definitely occurred at Fusionex before you make any selections of assistance.”

The purpose was to extend, get and protected new client bases, technologies and skills utilising the resources that Fusionex had cultivated from the Asian location.

It absolutely was not only the movement to end up, however the news that Ivan and a lot of of his leadership staff quit their Employment abruptly without having serving owing notice and did not execute their Qualified and fiduciary obligations with an appropriate handover of obtain and paperwork.

I'm involved which the actions in the Fusiotech administration staff can have further repercussions for that ecosystem Primarily foreign traders and possible acquirers of Malaysian startups.”

“The former my website senior management departed the corporate immediately without any kind of handover of the administration along with the functions.

The catalyst for The existing problem started when Hitachi, as A part of its threat management navigate to this site and company governance where by it conducts an interior audit of its subsidiaries every a few many years, gave Ivan observe in Aug 2022 that it meant to do an audit on Fusionex Team and Fusiotech Holdings in March 2023.

Btw, this non-cooperation also involved a senior secretary who refused to offer The brand new CEO, Hiroyuki Kumazaki, Along with the cell figures of each of the senior Management crew and who to begin with refused at hand in excess of her corporation laptop computer to him. And when she did, it absolutely was discovered to are wiped clean (reformatted to erase all earlier info.)

Teh highlighted the delisting of Fusionex on Goal was certainly not the "close on the highway" for the corporation, but in its place allows Fusionex to concentrate its Strength and to speculate for the long term in order that it has the capacity to attain a faster and more practical development.

Within an empowering networking session at Fusionex headquarters, the SME Association of Malaysia centered on cultivating SME leaders and embracing the digital revolution. The session, enriched by numerous speakers, centered on insights into fostering small her latest blog business progress via digitalization.