About fusionex
About fusionex
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Many expressed shock and disbelief that not only Ivan, but users of his leadership group could behave in these kinds of an unprofessional, unethical and irresponsible fashion. “If That is legitimate, And that i Actually come across it not easy to think, then they've opened on their own to legal motion from Hitachi and also probable censure within the professional bodies They may be customers of,” claimed just one tech ecosystem leader with a powerful company track record.
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A couple of days later on the inhouse authorized counsel for Fusionex showed Hitachi’s legal professionals a duplicate of One more ‘authorities directive’ dated 27 Nov which purported to prohibit Fusionex from sharing any information with the audit committee.
“Partnering with Fusionex allows us to streamline our operations, fix industry problems and push exponential progress for users.
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But a clear picture emerges from the unusually in-depth winding up petition submitted by Hitachi, seen by DNA, the place Hitachi chronologically lists a series of steps by Ivan and his leadership crew around a 15-month interval that may be sweeping and spectacular in scope, outlining flimsy excuses, non transparency and non-cooperation with Hitachi.
The next day, Fusionex identified as for a gathering with Hitachi the place it suspended any further discussions based upon the newly obtained govt directive, like not allowing the Audit Committee to meet with Fusionex auditors EY.
It truly is a surprising fall, with out parallel in Malaysia’s tech heritage. A lot more so, as Ivan is definitely the closest issue to being the golden boy for Malaysian tech, creating a corporation to compete during the business tech Place against worldwide tech players.
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Suspicious transactions pertaining to V-Circle and Convedge for ‘software enhancement fees’ and/or ‘technological know-how fees’
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But, aiming that can help take care of The problem, Hitachi established out some pre-problems for Ivan to acquire funding from it, which integrated:
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