The catalyst for The existing circumstance begun when Hitachi, as Portion of its threat administration and company governance where by it conducts an inside audit of its subsidiaries every 3 years, gave Ivan see in Aug 2022 that it intended to do an audit on Fusionex Group and Fusiotech Holdings in March 2023.

Additionally, utilizing SaaS organization know-how and collaborating with Hitachi's OT and item businesses, Hitachi will create new digital services, further penetrate into your acquired purchaser bases in Asia and grow to worldwide clients in other regions.

It remains being found if Ivan will arrive out and protect himself and his popularity towards the harmful contents of Hitachi’s petition. Any long term he hopes to possess of nonetheless remaining a crucial Element of Malaysia’s tech ecosystem will depend upon this.

It is actually a stunning slide, with out parallel in Malaysia’s tech record. A lot more so, as Ivan would be the closest factor to remaining the golden boy for Malaysian tech, building a firm to contend within the company tech House in opposition to world wide tech gamers.

and his workforce - whereby the business's shares fell greatly after it announced that it wants to request shareholders’ acceptance to delist through the London Inventory Exchange Goal. 

Needless to say, you will discover other alternate implies my latest blog post to delisting from Purpose, like getting rid of the nominated advisor of the organization and never choosing a new a single.

Hitachi’s lawyers ended up also not provided a replica with the directive and ended up only permitted to look at it with out getting any notes during a gathering involving the two sides in KL on 23 Nov.

Hitachi uncovered, for their shock, that from Sept to Nov, at the least a hundred and ten staff had possibly resigned or been retrenched. The directors were not informed of the find out this here significant predicament.

Regardless of the progress, the corporate's stock has remained largely flattish over the past 15 months (with the exception of the latest tumble).   

As of publishing of this article, Ivan has not responded to DNA queries to acquire his aspect on the Tale.

They have got long gone to court docket but it really needs to experience a hearing just before nearly anything takes place. So I’m undecided when the hearing is going to occur. All this is done by Hitachi’s legal professionals.”

For Teh, the key driver for these kinds of go is his perception that Fusionex has become undervalued for many years on the market. 

It is usually not regarded if Hitachi has reached out to any consumers to aid them, although these kinds of endeavours are Evidently handicapped by it not recognizing who Fusionex’s clients even are over and above the big types where by the deal wins were accompanied by media releases.

Hitachi court petition to wind up Fusionex, reveal grim photo of alleged unethical and irresponsible carry out by Ivan Web Site Teh and his senior leadership