The fusionex Diaries

The fusionex Diaries

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It really is a shocking drop, without the need of parallel in Malaysia’s tech background. Much more so, as Ivan will be the closest factor to currently being the golden boy for Malaysian tech, building a corporation to contend while in the enterprise tech space against global tech gamers.

Teh highlighted that the delisting of Fusionex on Intention was definitely not the "finish of your road" for the business, but alternatively enables Fusionex to concentration its energy and to speculate for the long term to make sure that it is ready to attain a speedier and more effective growth.

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“After i began Performing in these organisations, we’d be flooded which has a tsunami of data and the problems that stemmed from it, like hospitals and medical centres, wherever I’d notice lengthy queues and inefficiencies. I believed to myself, ‘What am i able to use or do working with technological innovation and a mix of skillsets to help make everyday living better, a lot quicker and more successful?

It absolutely was not merely the motion to end up, however the news that Ivan and several of his leadership crew Give up their jobs abruptly with out serving owing notice and did not execute their professional and fiduciary responsibilities with a suitable handover of obtain and files.

This shift why not find out more will strongly boost, obtain and secure new buyer bases, technologies and abilities that Fusionex has cultivated while in the Asian area

Very, Hitachi explained cabinets inside the finance Division “appeared to are emptied out” Along with the economical data and management accounts on the Fusionex Team and Fusiotech Holdings nowhere to become discovered, except for the balance sheet and consolidated statement of monetary posture as at thirty.9.2023.  

Hitachi court docket petition to end up Fusionex, reveal address grim photograph of alleged unethical and irresponsible perform by Ivan Teh and his senior Management

For Teh, the main driver for such go is his belief that Fusionex has long been undervalued for a long period available on the market. 

  The winding up petition from the Fusionex Team of providers are still pending prior to the courtroom and While using the Court hearing the petition in May 2024.

The drastic stage was triggered by the abrupt departure of Fusionex founder, Ivan Teh, and his senior Management, leaving the corporate's functions inside of a condition of confusion.

“The previous senior management departed the corporation immediately with none kind of handover in the administration as well as functions.

Such was Hitachi’s assurance in Ivan that it still left him and his management staff totally in control of managing FusioTech Holdings, The brand new business recognized article its acquisition.