THE FUSIONEX DIARIES

The fusionex Diaries

The fusionex Diaries

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Within a written reaction handed to Ivan about the working day from the Assembly, Hitachi expressed grave worry over the lack of communications and transparency by Ivan and his leadership workforce more than the particular mother nature from the economic problem of Fusionex.

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Asked by DNA if Hitachi was getting ready to seek authorized motion against the directors and administration workforce of Fusionex for failing to perform their fiduciary responsibilities, a Hitachi Japan spokesperson explained, “Next common authorized methods, If your winding up get is granted with the Court, a liquidator might be appointed to take in excess of operations over the winding down procedure. Any potential lawful motion would need to be considered through the appointed liquidator.”

It continues to be being viewed if Ivan will arrive out and protect himself and his status in opposition to the damaging contents of Hitachi’s petition. Any upcoming he hopes to possess of still remaining a important Section of Malaysia’s tech ecosystem will rely upon this.

Hitachi positioned 5 of its executives as non-government directors around the board with Ivan and his CFO, Chen Chiang as govt administrators.

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He went on to add, “It is absolutely nonsensical to point out that there's a so identified as authorities directive to withhold info from foreign nationals Which this is applicable to foreigners who will be around the board. There isn't a these kinds of matter and it is actually just an justification to withhold information and facts from the Board.”

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Prior to my having access to the Hitachi winding up petition papers, I had used Nearly two weeks inquiring business gamers, current and past Fusionex staff members about what might have absent Erroneous but with hardly any light-weight on what might have brought on this drastic choice by Hitachi.

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An ecosystem chief familiar with the contents of Hitachi’s winding up petition did not mince his view in the alleged behaviour by Ivan and his leadership staff.

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