The Ivan in concern is Ivan Teh, a highly revered forty seven-yr-outdated, smooth spoken, well mannered entrepreneur using an powerful operate ethic who Launched Fusionex in Malaysia in 2009 and grew it into one of Southeast-Asia’s best analytics and AI firms.

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Many expressed shock and disbelief that not only Ivan, but users of his leadership crew could behave in these types of an unprofessional, unethical and irresponsible manner. “If This is certainly true, And that i honestly uncover it tough to consider, then they've got opened themselves to legal motion from Hitachi and even achievable censure with the Expert bodies They are really members of,” explained a single tech ecosystem chief with a powerful corporate history.

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The aim was to increase, acquire and safe new customer bases, systems and know-how utilising the methods that Fusionex had cultivated within the Asian location.

Hitachi courtroom petition to wind up Fusionex, expose grim image of alleged unethical and irresponsible perform by Ivan Teh and his senior leadership

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In its place, While using the court docket previously appointing interim liquidators from Deloitte Restructuring Solutions PLT on 27 Dec, agreeing with Hitachi’s argument that the dire predicament Fusionex faces demands urgency, the fear is the fact Fusionex will stop to exist, with the sole remnants being its billboards across the Klang Valley, ready to become taken down in addition.

"Of top of that, our vital emphasis will stay on 3 issues – rewarding our deserving workforce customers; Doing the job to repeatedly enhancing our choices and engineering to remain in advance from the curve; go to this site do the job in the direction of our quest to provide our buyers with top quality merchandise and offerings.

A Hitachi Japan spokesperson informed DNA that Hitachi experienced no alternative but to shut the organization down, describing it given that the “most cautious system of motion to proactively handle and minimise the affect to Everybody included.

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A few days later the inhouse lawful counsel for Fusionex confirmed Hitachi’s lawyers a copy of One more ‘govt directive’ dated 27 Nov which presupposed to prohibit Fusionex from sharing any info Along with the audit committee.