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

Hitachi discovered, to their shock, that from Sept to Nov, at the very least 110 staff had either resigned or been retrenched. The administrators weren't educated of this meaningful problem.

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It stays to generally be observed if Ivan will occur out and protect himself and his status from the harming contents of Hitachi’s petition. Any foreseeable future he hopes to get of still being a essential part of Malaysia’s tech ecosystem will count on this.

Within the floor degree, plainly minority shareholders and major shareholders like Teh are the biggest casulties.

“Only then we will discover out the cause of the investigation. Just about anything at this stage of time is extremely speculative till the investigation is complete.

They have gone to court however it really should endure a Listening to right before something requires put. So I’m not sure in the event the Listening to will take place. All this is done by Hitachi’s legal professionals.”

This provided a dialogue which has a previous senior government who made an have a peek here effort to influence me not to write in regards to the subject.

"He signed an irrevocable declaration to vote in favour from the delisting," mentioned the supply, who declined to be name as a result of sensitivity of the information. 

In keeping with a highly trained law firm aware of liquidation matters, “Hitachi, as the only shareholder, could have retained its winding up petition in a simple and superficial amount.

There may be industry communicate that Ivan has an curiosity in the corporation Whilst his name won't appear being a shareholder or director and a person informed about V-Circle tells DNA that Ivan has no real interest in the corporate.

Hitachi placed 5 of its executives as non-govt administrators within the board with Ivan and his CFO, Chen Chiang as executive administrators.

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